Trend hedge funds could sell up to $42 billion in US shares, says Goldman
NEW YORK - Trend-following hedge funds could sell between $20 billion and $42 billion in U.S. equities over the next month if the stock market continues to retreat, a Goldman Sachs note shows.A fall of 3.2% in the S&P over the next month would force CTAs to sell around $20 billion in companies in the index and over $200 billion in global equities, the bank said in a note published on Friday. If the S&P further retreated, sales in the S&P could total $42 billion.
Overall, last week hedge funds on net sold U.S. equities for a second straight week, mostly after the a strong consumer price index surprised investors on Wednesday, casting further doubt on whether the Federal Reserve will start cutting interest rates soon.
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