Finance
Goldman Trader: “Signs Of [Upside] Capitulation Are Starting To Emerge”
![Goldman Trader: "Signs Of [Upside] Capitulation Are Starting To Emerge"](https://i0.wp.com/republicpreparedness.com/wp-content/uploads/2023/07/Goldman-Trader-Signs-Of-Upside-Capitulation-Are-Starting-To-Emerge.jpg?resize=500%2C273&ssl=1)
The early-month exuberance within the S&P 500 has faltered right into a sideways marketplace for the final week or so (albeit with the BoJ-rumor-driven plunge combined in)….
Still, the de-grossing regime-shift that we highlighted 10 days in the past has continued as Goldman’s Prime Desk notes that, from a buying and selling exercise standpoint primarily based on Prime information, July is monitoring to be one of many largest energetic de-grossing months for hedge funds in recent times (92nd percentile on a 10-year lookback), pushed by quick covers and to a lesser extent lengthy gross sales (~3 to 1). The general Prime ebook has seen de-grossing exercise in 12 of the previous 14 classes.
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