Hedge funds short US financial stocks at near record levels -Goldman Sachs

Hedge funds short US financial stocks at near record levels -Goldman Sachs

Global hedge funds have increased their bearish positions this week, reaching the highest level in almost five years, according to Goldman Sachs. The underlying reasons for this development were not specified by the bank. The prime book for the U.S. financial sector experienced the most net selling and saw the largest net selling in seven weeks, driven solely by short sales, as stated by the bank’s prime insights & analytics team. The long/short ratio, which is currently below 1.7 times, has reached a historical low. This ratio was at 2.6 times at the beginning of the year but sharply declined in March due to the regional banking crisis. Goldman Sachs reported that hedge funds are currently underweight financials, at the lowest level since May 2020. Bank shares have experienced significant declines this year, with the KBW Bank index down nearly 23% year to date and the S&P 500 Banks index falling over 11.26%. The article was reported by Carolina Mandl in New York and edited by Richard Chang. The Thomson RushHourDaily Trust Principles apply.

About News Team

Hi, I'm Alex Perez, an experienced writer with a focus on lifestyle and culture news. From food and fashion to travel and entertainment, I love exploring the latest trends and sharing my insights with readers. I also have a strong interest in world news and business, and enjoy covering breaking stories and events.

Have a tip we should know? tips@rhd.news

Most Read

  1. News
    Pandora Papers Financial Leak Shows Us the Secrets of the World’s Rich and Powerful
    2 years ago
  2. Health
    US Supreme Court Rejects J & J TALC Cancer Case Appeal
    3 years ago
  3. Lifestyle
    9 Habits that Drain your Daily Focus and How to Avoid Them
    3 years ago
    Women’s Demand for Shapewear – the big Trends
    3 years ago
    Valentino Launches its Cosmetics Line
    3 years ago
  6. Health
    US Promises to Share 60 million Doses of AstraZeneca Vaccines
    3 years ago
  7. Health
    UK Offers Aid Amid Surging COVID-19 Cases in India
    3 years ago
  8. Sports
    Thousands of fans welcome Charlton funeral cortege at Old Trafford
    3 weeks ago
  9. News
    Brit left fighting for life after train derails in Argentinia
    3 weeks ago
    Dubai faces down airline rivals with $50 bln jet orders
    3 weeks ago
  11. Sunak
    UK’s Sunak brings back Cameron, sacks Braverman
    3 weeks ago
  12. Sports
    Man United’s Hojlund, Eriksen withdrawn from Denmark team duty
    3 weeks ago
  13. Health
    Autumn Sneezing Syndrome is on the rise… here’s what you can do
    3 weeks ago
  14. Canada
    Canada beat Italy to win Billie Jean King Cup for first time
    3 weeks ago

Follow @rushhourdaily: