Good Monday morning. ICYMI: Tiger Woods wasn’t the only winner from the Masters yesterday. So was Nike — which turned out this ad within minutes of his victory. (Was this email forwarded to you? Sign up here.)

Goldman makes an early 2020 call

Economists at Goldman Sachs wrote in a research note over the weekend that President Trump has a “narrow” advantage over his potential Democratic challenger next year, according to news reports.

• Prediction markets have suggested that a Democratic challenger is likely to win.

• But Bloomberg reported that the Goldman economists, Alec Phillips and Blake Taylor, argue that, “The advantage of first term incumbency and the relatively strong economic performance ahead of the presidential election suggest that President Trump is more likely to win a second term than the eventual Democratic candidate is to defeat him.”

• And polls that include Howard Schultz as a potential third-party candidate show him reducing the Democratic vote share by around 2 percentage points more than the Republican vote share.