Goldman Sachs
July 10, 2026
Morning Market Update
Daily UpdateEquitiesFXMacro Economic IndicatorsInformation Technology
This report previews June CPI data and analyzes market trends, including the recent technical unwind in momentum trades and the resurgence of G10 FX carry strategies.
Key Takeaways
- 1.Goldman Sachs forecasts a 0.17% core CPI increase for June, reflecting lower energy prices and slowing shelter costs.
- 2.The recent 20% pullback in momentum trades appears technical-driven, as markets anticipate seasonal weakness and respond to volatility.
- 3.G10 FX carry strategies are favored due to historically elevated carry and subdued volatility levels.
Table of Contents
- US ECON
- US EQUITY VOL TRADING
- FX STRATEGY
- US GOVERNMENT TRADING
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Authors
Jessica RindelsRonnie WalkerShawn TutejaStuart JenkinsSteve Brown
Securities
SOXXSMH
Themes
G10 Carry TradeMomentum Unwind
Regions
Middle EastUnited StatesJapanSwitzerland