A Goldman Sachs analyst says the data show that
- systematic money managers have loaded up on more than $170 billion worth of global shares in the past month
- putting funds’ exposure to the highest level since early 2022
- but now, with their positioning near a peak, the group is more inclined to be sellers in coming weeks
Bloomberg (gated) conveys the info.
More:
- Trigger signals for commodity trading advisers — CTAs that surf the momentum of asset prices through long and short bets in the futures market — sit at levels including 4,130 on S&P 500, his model shows.
- “I am tactically bearish,” Rubner wrote in a note to clients Tuesday afternoon. “The buyers are out of ammo.”
- From trend followers to traders who allocate assets based on volatility signals, quant funds would be forced to unwind as much as $276 billion of shares should the market sell off in the next month, according to Goldman’s model. However, thanks to their elevated exposure, they would only need to purchase up to $25 billion if a big rally takes hold during the same time frame.
