Goldman Sachs’ share price broke through a 10-year record yesterday on the back of hopes for higher interest rates, lower taxes and reduced regulation under the Trump administration.
The bank, which has seen shares soar even further than its peers since the election, saw an intraday rise of 1.3 per cent, closing at $249.46. The previous closing high, at $247.92, was on 31 October 2007.
A leader in securities trading and investment banking, Goldman usually benefits from strong capital markets and more flexible trading rules, the FT writes.
The bank’s market capitalisation surpassed $100bn for the first time in a decade in December following a pick-up in post-election trading.
This month Federal Reserve official and banking regulator Dan Tarullo stepped down, while several ex-Goldman executives have been appointed to senior positions in the cabinet by President Trump.