Market Insights: Gold, Bitcoin, and Sports Prediction Markets

Goldman Sachs is buying a stake in T Rowe Price, Citigroup is offloading its asset management to Blackrock, and JP Morgan Investment Management can now include private assets in its model portfolios. Meanwhile, America loves pumpkin spiced lattes, and apartment rents are flat year-over-year. Data centers are driving growth, but putting strains on the grid.

Goldman Sachs and T. Rowe Price have announced a strategic collaboration aimed at delivering a range of diversified public and private market solutions tailored to retirement and wealth investors. This partnership leverages the strengths of both firms, combining investment expertise, solutions orientation, and a deep understanding of intermediaries' needs. Key highlights include co-branded target-date strategies, model portfolios, and multi-asset offerings that will incorporate private market access for individuals, advisors, and plan participants. Goldman Sachs will invest up to $1 billion in T. Rowe Price common stock, aiming to own up to 3.5% of the company. The solutions are expected to launch in mid-2026 [1].

In a separate move, Citigroup is entrusting BlackRock with managing tens of billions of dollars of clients' investments, closing its last in-house asset management operations. BlackRock will take on the last $80 billion that Citigroup still oversees, marking a significant step in streamlining the bank's wealth business. This move allows Citigroup to focus on mass affluent clients and compete more effectively in the crowded wealth management sector. The new arrangement is expected to be completed by year-end [2, 3].

JP Morgan Investment Management has also made a notable change, allowing private assets to be included in its model portfolios. This shift reflects a broader trend in the financial sector towards incorporating alternative investments, driven by the potential for higher returns and diversification benefits.

Meanwhile, data centers are driving growth in the tech industry but are also straining the grid. The increasing demand for data storage and processing is putting pressure on energy infrastructure, necessitating significant investments in renewable energy and grid modernization to meet the growing needs of data centers.

References:
[1] https://www.marketscreener.com/news/goldman-sachs-and-t-rowe-price-announce-strategic-collaboration-to-deliver-innovative-public-pivate-ce7d59d8dc8bf623
[2] https://www.bloomberg.com/news/articles/2025-09-04/citigroup-hands-blackrock-80-billion-of-assets-in-wealth-deal
[3] https://theedgemalaysia.com/node/769433