LONDON, Oct 2 - Hedge funds using computers to trade equities are expecting to start selling to the tune of $20 billion to $30 billion in the next two weeks given retreating stock markets, a UBS note seen by Reuters shows.
The bank anticipates as much as $30 billion of outflows will soon hit markets, potentially exacerbating the downward move in shares, as these hedge funds start selling stock to follow the recent negative performance. U.S. stocks fell 3.6% in the July-September period, their first quarterly decline of 2023, as investors grappled with the prospects of interest rates remaining higher for longer and rising oil prices added to inflation worries.
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