The US could emerge strongest out of market turmoil hitting major world economies, Bloomberg suggests, citing the latest MLIV Pulse survey. 69% of 452 respondents said that the US will best weather this year’s crises among developed markets, while a full 86% of respondents see US markets recovering first.

It’s not looking good for the UK + Europe: Nearly half the respondents think the UK will be first to fall into recession (and the survey was conducted before recent shenanigans by PM Liz Truss). Europe is also expected to fall faster and suffer longer than the US on the back of its energy crisis and the war in Ukraine.

WATCH THIS SPACE- Look out for a bombshell from Goldman Sachs: The Wall Street bank is set to announce plans to fold its key businesses into three divisions, the Wall Street Journal reports, citing anonymous sources. Goldman could announce the reorganization in parallel with the release of its earnings report today. The bank will combine its flagship investment banking and trading businesses into one unit, while merging asset and wealth management into another. A third division will be dedicated to transaction banking, the bank’s fintech portfolio, and other joint ventures. The bank’s consumer arm — known as Marcus —will be absorbed by the wealth unit.

THE CLOSING BELL-

The EGX30 rose 1.0% at yesterday’s close on turnover of EGP 1.33 bn (26.4% above the 90-day average). Local investors were net buyers. The index is down 15.1% YTD.

In the green: Telecom Egypt (+6.1%), e-Finance (+5.5%) and GB Auto (+4.6%).

In the red: CIB (-1.0%), CIRA (-0.8%) and Oriental Weavers (-0.7%).