Goldman Sachs Podcast Summary: April 8, 2026

This monthly market rundown, recorded on April 8, 2026, features host Tony Pasquariello (Global Banking and Markets) alongside Joshua Schiffrin (Chief Strategy Officer) and Dominic Wilson (Senior Markets Advisor) as they analyze the post-ceasefire geopolitical and macroeconomic landscape.

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1. Market Sentiment and Geopolitics

• Ceasefire Impact: The market has entered a phase of relief following the recent Iran ceasefire. While a resolution is distant, the speakers emphasize that the primary market driver has been the compression of deep downside tail risks (0:20 - 1:40).
• Resilience of Equities: Despite a nearly 10% drawdown in the S&P, equity markets remained orderly compared to the previous six years of data. The panelists attribute this to sustained confidence in the growth narrative and strong expectations for 12% earnings growth (3:55 - 5:25).
• The 'War Premium': The team notes that while headline risks have cooled, a 'war premium' remains. They caution investors not to be complacent and to consider re-upping protection as volatility settles ( - , ).