Hedge fund shorts on banks and financials reach 4-month peak- Goldman
Global hedge funds kicked off the largest net selling of U.S. financial stocks in 16 weeks just as earning season started in the week ending Jan. 11, a Goldman Sachs note to clients said. Hedge funds exited long positions and added short bets that stock prices would fall in banks, insurance companies and financial intermediaries before bank earnings were released on Friday, said the Goldman note dated Jan. 12 and seen by Reuters on Monday. The note, written by Goldman’s prime brokerage which serves hedge funds, tracked trading activity from ...
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