Hedge funds net bought US equities for the first time in 4 weeks
Hedge funds returned to net buying, led by Macro Product short covers, according to @GoldmanSachs' October 30, 2026 rundown.
Mag 7 was still net sold in 4/5 sessions amid earnings volatility.
The Russell 2K outperformance had a similar driver. @GoldmanSachs attributes it to orderly short covering, with a $2.1B decline in open interest. Fresh longs weren't the driver. Rate sensitivity remains a constraint.
The S&P 500 is testing its 100dma (7614) and CTA threshold (7554). Those are the technical levels @GoldmanSachs flags alongside the covering activity.
@GoldmanSachs also describes constrained appetite for AI amid election uncertainty.
Investors are seeking names it calls AI-resistant, including $IBM, $AAPL and $SPOT.
Hedge funds returned to net buying, led by Macro Product short covers, according to @GoldmanSachs' October 30, 2026 rundown.
Mag 7 was still net sold in 4/5 sessions amid earnings volatility.
The Russell 2K outperformance had a similar driver. @GoldmanSachs attributes it to orderly short covering, with a $2.1B decline in open interest. Fresh longs weren't the driver. Rate sensitivity remains a constraint.
The S&P 500 is testing its 100dma (7614) and CTA threshold (7554). Those are the technical levels @GoldmanSachs flags alongside the covering activity.
@GoldmanSachs also describes constrained appetite for AI amid election uncertainty.
Investors are seeking names it calls AI-resistant, including $IBM, $AAPL and $SPOT.