A 'Digestion' Phase: Goldman Partner Sees Signs Of Broadening, Rotation, & 'Structurally Higher Vol'
PremiumA 'Digestion' Phase: Goldman Partner Sees Signs Of Broadening, Rotation, & 'Structurally Higher Vol'
Authored by Bobby Molavi, Goldman Sachs Partner and macro trader,
Digestion
A market up over 50% since liberation day....a market that is narrow and concentrated….a market that now sees semis account for 19% of US market cap…..a market increasingly correlated to one factor (momentum)….a market with a growing reliance on one theme (Ai)….and within that theme, a growing dependence on a traditionally cyclical memory cycle. But this time might be different……
Several Important Patriots Are Entering Contract Seasons. Will They Remain In 2027?
Several Important Patriots Are Entering Contract Seasons. Will They Remain In 2027?
The New England Patriots have several key players going into a make-or-break season this year.Ethan Hurwitz|
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New England PatriotsWe are still a few months away from the start of the 2026 season, but there are some players on the New England Patriots that could have their 2027 seasons impacted as well.
A handful of Patriots are entering contract seasons, either coming up on the end of their rookie deal with New England or reaching the last year of a contract they signed in free agency. While some of these names could
The Patriots have plenty of cap space right now, so it's not like there will be issues retaining some of these guys in the future. Compared to other offseasons, it's clear that this class of free agents may not be as drastic as some others. Regardless, the impeding ending of contracts could create some interesting dynamics for players in New England this season.
Here are five key players that are expected to gave major roles on the team this season, and how a good year could help boost their stock on the open market.
WR DeMario Douglas
Douglas has been given the short end of the stick plenty of times since arriving in New England. Drafted in 2023, the Liberty wideout was benched as a rookie and then has been used sparingly in the years that followed. He's got the talent to shine as a slot receiver, but hasn't had the consistent snaps to prove that.
Seeing that he's in a positional competition with Efton Chism III right now (one that he should win), you'd expect Douglas to be up to the task this summer. If a strong training camp can carry into the regular season, and he's able to be used in the passing attack at a higher volume, it could make the Patriots desire to keep him around a lot more magnified.
WR Kayshon Boutte
The other wide receiver drafted in the sixth round in 2023, Boutte is in a different situation. It feels like his time is nearing the end in New England, and a lot of it is because of the trade for A.J. Brown. There have been rumors that Boutte is interested in being traded this season because of what may become a diminished workload, and he has a point.
But should he stick around and be used in tandem with Brown and free agent signing Romeo Doubs, he could also prove to the Patriots that he's a lot more valuable than just a trade chip. To me, it seems likely that Boutte will be in another uniform by the time the 2027 season rolls around, but how that happens could be dictated by his performance this year. I doubt that he'll be a Patriot when the first game of 2027 kicks off.
TE Hunter Henry
I would be stunned if Henry even hits the open market. The starting tight end has become an important piece of the Patriots' offense since signing in 2021, and has formed a tight-knit bond with quarterback Drake Maye in the process. He's coming off a career season in 2025 and keeps knocking on the door for being included in the conversations for one of the best tight ends in franchise history.
This season will be interesting for Henry. Maybe he decides to hang them after at age 32 (he'll turn 32 in December), despite his play being at a high level. From a leadership standpoint, the Patriots should try and keep Henry around for as long as possible. A contract extension could be in the cards for the veteran, regardless of how his season turns out.
OG Mike Onwenu
The Patriots created more than $7 million in cap space after restructuring Onwenu's previous contract, allowing him to play on a more lucrative signing bonus deal this season. The new contract won't prevent him from hitting free agency next winter, but it shows one thing: Onwenu was willing to take a pay cut for the Patriots. That should clue us into a potential decision he may make for 2027.
The 28-year-old guard is still playing at an elite level, something he's consistently done since being drafted in 2020. The Patriots have made it a priority to bring in offensive linemen to protect Maye in the pocket, and there really isn't anyone better on the team that Onwenu at doing so. He signed a massive deal to remain with the Patriots back in 2024, and that could easily happen once again.
S Kevin Byard
Byard -- who led the NFL in interceptions a year ago with the Chicago Bears -- inked a one-year deal to join the Patriots' secondary this offseason. Is this the swan song for the safety? The former Tennessee Titans star, who is set to turn 33 years old in August, isn't getting any younger, despite his play being at a high level.
This one is interesting to me for several reasons. The Patriots could have signed Byard to a multi-year contract in free agency, considering his prior relationship with Mike Vrabel and his elite play with the Bears in 2025. But they didn't. Instead, they gave him a one-year contract worth up to $10 million. We could be seeing a "year-by-year" plan for Byard, as the veteran may take some time to decide his future steps after each passing season. Right now, I'd say it's up in the air if he re-signs at this point in time.
The other Patriots set to hit unrestricted free agency next offseason include wide receiver Mack Hollins, offensive tackle James Hudson, edge rusher Jesse Luketa, linebackers Christian Elliss, K.J. Britt and Chad Muma, cornerback Kindle Vildor, safety Mike Brown and punter Bryce Baringer.
Published 2 minutes ago | Modified 19 seconds ago
ETHAN HURWITZEthan Hurwitz is a writer for Patriots on SI. He works to find out-of-the-box stories that change the way you look at sports. He’s covered the behind-the-scenes discussions behind Ivy League football, how a stuffed animal helped a softball team’s playoff chances and tracked down a fan who caught a historic hockey stick. Ethan graduated from Quinnipiac University with both a bachelor’s and master’s degree in journalism, and oversaw The Quinnipiac Chronicle’s sports coverage for almost three years.
Follow HurwitzSportsNew Ranking Shows Broncos Have One of NFL's Most Dangerous Pass-Rushing Duos
New Ranking Shows Broncos Have One of NFL's Most Dangerous Pass-Rushing Duos
There's an argument that the Denver Broncos' pass-rushing duo should rank No. 1 in the NFL. Chad Jensen|
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Denver BroncosIn back-to-back seasons, the Denver Broncos led the NFL in sacks. With 68, Denver came tantalizingly close to breaking the 1984 Chicago Bears' all-time single-season sack record last season of 72.
If the Broncos could have finished a little bit stronger down the stretch, they probably would have caught the '84 Bears. It didn't help that Jonathon Cooper only totaled one sack over the final eight weeks of the season. Talk about a fall-off.
It might be too much to ask for the Broncos to lead the NFL in sacks for a third straight year, but the top two guys are back. Speaking of outside linebacker Nik Bonitto and defensive end Zach Allen, the Broncos' duo checked in at No. 3 in Sports Illustrated's top five pass-rushing tandems of 2026.
"A 3-4 defensive end, Allen might be the most underrated player in the NFL. It’s something that should be impossible, considering he played for a 14–3, top-seeded team last season. Yet he remains so, even with pacing the NFL over the past two seasons in quarterback hits with 47 and 40, respectively," SI's Matt Verderame wrote.
Allen may indeed still be underrated, especially by the fans in the Pro Bowl voting, but he's made the A.P.'s All-Pro team in each of the past two seasons, including the first team last year, so his cache has grown tremendously around the NFL. And at 28, he's still in his prime window.
Interior pressure is so valuable in the NFL. It flusters quarterbacks like nothing else, and often leads to the edge rushers capitalizing on the work of the inside guys.
In Bonitto's case, he's certainly benefited at times from Allen's interior pressure, happy to clean up a scrambling quarterback. But Bonitto creates plenty of his own pressure, which Allen has capitalized on himself. It's a symbiotic relationship with this inside/outside duo.
"On the outside, Bonitto earned a four-year, $106 million extension beginning this year by turning into one of the game’s elite pass rushers. Last season, he helped the Broncos lead the league with 68 sacks by having a team-high 14, his second consecutive season with at least 13.5. Only 26 and surrounded by pass rushers, including Allen and Jonathan Cooper, Bonitto’s best days might be ahead of him," Verderame wrote.
A 2022 second-round pick, Bonitto was a bit of a late bloomer, with his break-out season coming in Year 3. Entering Year 5 now, he's a bona fide Defensive Player of the Year candidate.
More Takeaways
What the Broncos are hoping to see from Allen and Bonitto this year is a bigger focus on punching the ball out. Both players get to the quarterback so often, whether it's pressures, hits, or sacks, but the strips and forced fumbles haven't been there.
Bonitto did have a beautiful strip-sack on Josh Allen in the Broncos' 33-30 overtime win over the Buffalo Bills in the divisional round, turning the corner and hitting him hard from the blind side to knock the ball out. It was one of four Allen turnovers on the day.
The Broncos now have a lot of money tied up in their front seven, with all projected starters playing on big extensions. Allen and Bonitto are on their second contracts with the club, and they're young enough that they could end up with a third.
With Cooper being arrested twice in June and facing serious criminal charges in Denver, it's unclear what the Broncos will ultimately decide to do with the troubled rush linebacker. The NFL is expected to hand down a suspension, regardless of what happens in court, so the Broncos have to start planning for life without Cooper for at least a little while.
That'll put more pressure on Bonitto and Allen, but not too much more. The Broncos are very deep at rush linebacker, with guys like Jonah Elliss, Dondrea Tillman, and Que Robinson champing at the bit to see the field.
The Takeaway
It'll be fun to see how the 2026 season plays out for the Broncos' defense. If Allen and Bonitto stay on their trajectory, perhaps they can climb higher in SI's pass-rush-duo rankings next offseason.
Myles Garrett and Byron Young of the Los Angeles Rams checked in at No. 1 in SI's rankings, followed by Danielle Hunter and Will Anderson Jr. of the Houston Texans at No. 2. Garrett and Young, as a duo, is all projection, as this will be their first year playing together.
I would have put Hunter and Anderson at the top, followed by Bonitto and Allen, simply based on their proven track record as tandems. But to each their own.
Published 15 minutes ago
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CHAD JENSENChad Jensen is the Publisher of Denver Broncos On SI, the Founder of Mile High Huddle, and creator of the popular Mile High Huddle Podcast. Chad has been on the Denver Broncos beat since 2012 and is a member of the Pro Football Writers of America.
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