Hedge funds bet against banks, insurance and property, says Goldman Sachs
By Nell Mackenzie
LONDON, Sept 2 (Reuters) -Hedge funds continued to take bets against bank and financial stocks in the week to Friday, Goldman Sachs wrote in a note seen by Reuters on Monday, amid reported job cuts and reduced dealmaking.
Financial stocks ended the week as the most net sold sector at Goldman Sachs' prime brokerage trading desk, which serves global hedge funds, the note said.
Banks, insurance companies, publicly traded property trusts and capital markets firms which allow people to buy and sell bonds and stocks were all sold on a net basis for the fourth straight week.
A short position bets that an asset price will decline in value, whereas a long position expects it to rise.
Europe's STOXX 600 banking index .SX7P has risen 1.7% since August 26, whereas the Dow Jones banking index .DJUSBK closed Friday up over 2% for the week ahead of Monday's U.S. holiday.
Financials as a stock sector were sold in six out of the last seven weeks, said the Goldman Sachs note.
The selling was global, led in notional terms by North America, developing markets in Asia and Europe, the note said.
While total deal values globally have risen by about a fifth, the number of mergers and acquisitions deals has fallen by 25% for the year to June 25, LSEG data shows.
Hedge funds carried out modest net buying in consumer finance, said the Goldman Sachs note.
Reporting by Nell Mackenzie; Editing by Dhara Ranasinghe and Hugh Lawson
免責聲明: XM Group提供線上交易平台的登入和執行服務,允許個人查看和/或使用網站所提供的內容,但不進行任何更改或擴展其服務和訪問權限,並受以下條款與條例約束:(i)條款與條例;(ii)風險提示;(iii)完全免責聲明。網站內部所提供的所有資訊,僅限於一般資訊用途。請注意,我們所有的線上交易平台內容並不構成,也不被視為進入金融市場交易的邀約或邀請 。金融市場交易會對您的投資帶來重大風險。
所有缐上交易平台所發佈的資料,僅適用於教育/資訊類用途,不包含也不應被視爲適用於金融、投資稅或交易相關諮詢和建議,或是交易價格紀錄,或是任何金融商品或非應邀途徑的金融相關優惠的交易邀約或邀請。
本網站的所有XM和第三方所提供的内容,包括意見、新聞、研究、分析、價格其他資訊和第三方網站鏈接,皆爲‘按原狀’,並作爲一般市場評論所提供,而非投資建議。請理解和接受,所有被歸類為投資研究範圍的相關内容,並非爲了促進投資研究獨立性,而根據法律要求所編寫,而是被視爲符合營銷傳播相關法律與法規所編寫的内容。請確保您已詳讀並完全理解我們的非獨立投資研究提示和風險提示資訊,相關詳情請點擊 這裡查看。