"The Big Dynamics Of The Game Have Changed"; Goldman Hedge Fund Honcho Fears April 2nd May Not Be A 'Clearing Event'

Last week brought another mixed bag of data, but it skewed net negative, and Goldman Sachs cut their Q1 GDP estimate to just 0.6% (the miss in personal spending took a notably large bite).

As Goldman Sachs head of hedge fund coverage, Tony Pasquariello notes, this was not lost on money managers: as you can see below, the market’s implied growth view has (more or less) converged down to where we think the economy is headed.