GOLDMAN SACHS: U.S. GDP HOLDS STRONG DESPITE HOUSING SLUMP

Goldman Sachs reported that U.S. GDP has held up strongly despite weakness in the housing sector, pointing to resilience in the broader economy. The transmission mechanism here runs through expectations for policy and growth: a strong aggregate growth reading offsets the drag from residential investment, which reduces the likelihood that the Federal Reserve will need to cut rates soon and keeps Treasury yields supported. Rate-sensitive segments such as homebuilders, mortgage lenders, and housing-linked equities are most exposed, since their earnings depend directly on mortgage rates and transaction volumes, while Goldman Sachs (GS) itself may benefit from sustained economic activity supporting trading and advisory revenues. Traders should watch the next Bureau of Economic Analysis GDP revision and the monthly new home sales and housing starts releases, which will show whether the housing weakness is stabilizing or deepening.

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