Hedge funds boost bearish bets on US equities amid market jitters

By Carolina Mandl NEW YORK - Hedge funds increased their bearish bets mainly on U.S. stocks last week when the major stock indexes plunged, Goldman Sachs showed in a report. The bank saidBy Carolina Mandl

The bank said its clients mostly added short positions while also getting rid of long positions. Among sectors, consumer discretionary, industrials and financials were the most net sold. Hedge funds added short positions mainly in so-called macro products, including equity index and exchanged-traded funds, the bank said.

Goldman Sachs, as one of the biggest providers of lending and trading services through its prime brokerage unit, is able to track hedge funds' investment trends.

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Hedge funds boost bearish bets on US equities amid market jittersHedge funds increased their bearish bets mainly on U.S. stocks last week when the major stock indexes plunged, Goldman Sachs showed in a report. 'Hedge funds have been pressing U.S. shorts in five of the past six weeks, and this week's notional short selling was the largest since Sept. 22,' Goldman Sachs' prime brokerage team wrote. Hedge funds added short positions mainly in so-called macro products, including equity index and exchanged-traded funds, the bank said.
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