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Federal Reserve policy stance United States; no move through middle of next year Riding the AI Wave: Megacap Tech and the Fed | Goldman Sachs Riding the AI Wave: Megacap Tech and the Fed After a divisive FOMC meeting, what policy shifts could lie ahead for the Fed? And what are tech giants’ earnings telling us about the AI trade? Anshul Sehgal, global co-head of Fixed Income, Currency and Commodities in Goldman Sachs Global Banking & Markets, discusses with Chris Hussey. ...

Gallerists and private patrons fund and promote Land Art in Nevada and Utah; Foundation wind-down set for 2038. Selling the unsellable: Who’s building Land Art’s legacy? | Art Basel In 1967, in an apparent rejection of art as ‘a malleable barter-exchange item’, as he put it, the US artistMichael Heizerstruck out to make vast sculptures in the deserts of the American Southwest. Comments such as Heizer’s contributed to an idealized, if oversimplified, narrative that those who created earthworks outdoors were stridently opposed to the commodified art market system. But while many of the most famous outdoor sculptures from the 1960s onwards were deliberately intended to sit outside of the gallery system, gallerists and private patrons have played pivotal roles in most, if not all, of the careers and legacies of the major figures of Land Art. And for some, those careers – and markets – are only now being fully recognized. ...

Julius Baer CIO strategy for uncertain markets, global markets; Gold reserves near 30% of central banks Geopolitics, gold, and global equities: Our CIO’s strategy for uncertain markets | Julius Baer An equity investor who has not reviewed the value of their investments since the outbreak of the war would, based on market performance alone, find it difficult to infer what has transpired in the Middle East in the interim. That is unless their portfolio includes direct or indirect exposure to oil & gas. Both the S&P 500 Index and the Nasdaq Composite Index have fully recouped their losses since the start of the Iran war, reaching new record highs. Global equities have followed suit, building on their strong performance at the beginning of the year. ...