Goldman Sachs notes that CTA, Retail, and Corporate investors are providing broad support for equities, with corporate buybacks in full swing. Hedge funds have increased net exposure, particularly in long/short books, while long-only investors remain neutral, with asset managers being slight net sellers of S&P futures.
Goldman Sachs observes that various investor types, including CTAs, retail traders, and corporations engaging in buybacks, are actively supporting the equity market. This broad sponsorship suggests strong demand for stocks, even as traditional valuation and concentration metrics might indicate caution. The S&P 500 has seen nine consecutive weekly gains, supported by strong earnings, steady inflows, retail demand, systematic buying, and aggressive buybacks.
Goldman Sachs observes that various investor types, including CTAs, retail traders, and corporations engaging in buybacks, are actively supporting the equity market. This broad sponsorship suggests strong demand for stocks, even as traditional valuation and concentration metrics might indicate caution. The S&P 500 has seen nine consecutive weekly gains, supported by strong earnings, steady inflows, retail demand, systematic buying, and aggressive buybacks.