Premium"Still The Best AI Hedge": Goldman Doubles Down On The Yen After It Barely Flinched On The Nasdaq's Worst Day Since COVID
What good is insurance that doesn't pay when the house is on fire?
That, more or less, is what Goldman's FX clients have been asking since last Thursday, when the Nasdaq suffered its worst day since Covid, tech hedge funds round-tripped their entire 2026 gain... and the one currency trade that Goldman (and half of Wall Street) had pitched as the AI crash hedge was up all of half a percent.