New York, Jan 27, 2026, 20:00 EST — Market closed
The Goldman Sachs Group, Inc. (NYSE:GS) saw its shares dip 0.23% on Tuesday, ending the day at $929.72. However, the stock ticked up 0.1% in after-hours trading. (Investing)
This week’s tape action isn’t about new deals. Instead, it highlights two investor fixations: the people steering fee revenues and the bank’s funding sources. Goldman’s adjustments come as markets jittery over the next shift in interest-rate forecasts.
The Federal Reserve is set to keep its benchmark rate steady between 3.50% and 3.75% on Wednesday, though investors are focused on how long that pause might stick. Tony Rodriguez, Nuveen’s head of fixed income strategy, noted, “When you factor in new tax cuts and the lagged impact of previous rate cuts, a pause makes sense.” (Reuters)
Goldman named seven new partners to its management committee on Monday, the team responsible for guiding daily operations. Among the additions were James Reynolds and Vivek Bantwal, who co-head the private credit division within asset management. CEO David Solomon didn’t mince words: “The opportunity to continue to grow our franchise across our Asset & Wealth Management franchise is a core strategic objective for the firm.” (Goldman Sachs)
The new hires lean heavily toward private credit and wealth management — areas known for generating more stable fees than dealmaking during volatile markets. Simply put, private credit involves lending outside the public bond market, frequently to firms supported by private equity.
Goldman said it will redeem all outstanding depositary shares linked to three series of “fixed-rate reset” preferred stock. These shares pay a fixed dividend that resets later. The bank will pay $1,000 per depositary share plus accrued dividends, covering about 1.45 million shares across Series Q, R, and S — totaling roughly $1.45 billion before dividends. (Goldman Sachs)
Each depositary share equals a 1/25 stake in a preferred share, allowing investors to buy smaller portions. Calling them back cuts costly funding but also pulls out dividend-paying securities that many see as reliable income sources.
Big U.S. banks showed mixed moves: JPMorgan Chase shares slipped 0.25%, Morgan Stanley edged up 0.45%, and the Financial Select Sector SPDR Fund dropped 0.75%.
But the risk on the downside is still very much alive. Should the Fed catch markets off guard or if Chair Jerome Powell adopts a hawkish stance beyond expectations, rate-sensitive financial stocks could drop sharply. Goldman’s trading and deal flow usually track shifts in volatility and investor confidence closely.
Wednesday afternoon brings the next big event: the Fed will release its policy statement at 2:00 p.m. EST, with a press conference kicking off at 2:30 p.m. EST. (Federalreserve)
