Goldman Sachs: Hedge Funds' Heavy Buying Looks More Like Rebalancing Than Risk-On

Odaily News: Goldman Sachs prime brokerage data shows that in the week ending August 13, hedge funds recorded their largest net buying of stocks in six months. The Goldman team noted this was the third consecutive week of net buying, with volumes coming in 1.6 standard deviations above the average capital flows of the past year. Overall, the week's aggressive buying did not push portfolio risk exposure above levels seen at the start of the week. What changed was mainly the composition of holdings rather than the scale of risk.