Sep. 13 at 5:30 AM
$GS Goldman scored a
$40B pension mandate from
$SHEL Shell, padding its asset-management AUM tally, & tossed
$1B into
$TROW T. Rowe Price as another side bet on private markets. The usual risks—rates, regulators, & thinner margins—still hang overhead. It’s Goldman: flows come in, flows go out, the franchise endures.
#RKT Rocket Companies bought Redfin, which means collaging real estate traffic with an equally interest-rate-sensitive mortgage business. Analysts are already hyping rate cuts. BofA upgraded the stock, hiking the target from
$21 to
$24. The case is simple: falling rates juice both purchase & refinance volumes. The Mr. Cooper deal comes with the usual promise of half a billion in “synergies.” Add in
$200M in Redfin synergy fairy dust & an 11% bump to 2026 EPS estimates.
Notes on Rocket: The Redfin purchase. Fifty million monthly visitors now feed into a mortgage machine already chained to rate cycles. A funnel. Falling rates. Rates down, volumes up. This is the “thesis.”
