Goldman Sachs: Vị thế của quỹ phòng hộ có thể tạo điều kiện cho sự phục hồi mạnh mẽ của thị trường chứng khoán Mỹ

Odaily Goldman Sachs Group's trading department stated that the positioning structure of hedge funds in the US stock market has created conditions for a significant rebound in the stock market after recent volatility. Speculative investors have largely maintained bullish positions at the individual stock level while establishing hedges through products such as shorting ETFs and stock index futures. Data from the bank's prime brokerage team shows that short positions in such products have now risen to their highest level since September 2022. This structure reflects the market's response to uncertainties stemming from the Iran war, credit risks, and AI-related concerns. John Flood, Head of Goldman Sachs Americas Equity Execution Services and Partner, said that if positive news emerges and prompts investors to unwind their hedges, this structure could also drive a substantial market rally. "If headlines announce the end of the conflict, there could be a rapid upward move at the index level. It might rise 2% to 3% in a short period, with most of it coming from the covering of short positions in macro products," Flood stated. "Currently, right-tail risk is more extreme than left-tail risk," meaning the possibility of a significant upward market move is greater. "Due to very high overall exposure and substantial shorting in macro products, any positive news could trigger aggressive short covering." (Jin10)