"I'm Turning Bullish": Goldman's Head Of Risk Says "Time To Start Scaling In"

For much of the past 5 days, ever since the Liberation Day fiasco, markets have been desperate for some guidance and were hoping it would come from the White House. So far that has not happened (one notable fake news incident notwithstanding) even though the S&P has lost about $7 trillion in market cap in 3 trading sessions, hardly the stuff midterm election victories are made of.

So someone else decided to take the lead.

In an email blast to the firm's trading (not research) clients, Goldman Josh Schiffrin, perhaps the most important trader on the bank's desk who also doubles (or rather triples) as the bank's Chief Strategy Officer and Head of Financial Risk, said that whereas he had been "negative", he just turned "bullish" and "it's time to start scaling in."