Levered ETFs pull in $3.3bn as liquidity thins
@GoldmanSachs' 6 Nov 2026 midday color puts levered ETF inflows at $3.3bn and inverse ETF outflows at a record-breaking $2.2bn. ETFs also logged their third-largest notional volume day at $580bn.
The equity rebound had weak breadth. NDX led SPX and RTY, but SPX was near its 200dma with 60% of constituents red. VIX returned to the 25-handle in what @GoldmanSachs called its largest 1-day drop since Covid.
Top-of-book liquidity was down to $3M from $4M. ETF volumes accounted for 35% versus a 32% YTD average, while hedge fund short sales were at 51%. Heavy ETF activity sat alongside thin liquidity and broad weakness beneath the index rebound.
@GoldmanSachs' 6 Nov 2026 midday color puts levered ETF inflows at $3.3bn and inverse ETF outflows at a record-breaking $2.2bn. ETFs also logged their third-largest notional volume day at $580bn.
The equity rebound had weak breadth. NDX led SPX and RTY, but SPX was near its 200dma with 60% of constituents red. VIX returned to the 25-handle in what @GoldmanSachs called its largest 1-day drop since Covid.
Top-of-book liquidity was down to $3M from $4M. ETF volumes accounted for 35% versus a 32% YTD average, while hedge fund short sales were at 51%. Heavy ETF activity sat alongside thin liquidity and broad weakness beneath the index rebound.
