News Formal

Hedge funds using computers to sell up to $30 billion of stocks soon

  • 📰 YahooFinanceCA
  • ⏱ Reading Time:
  • 35 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 63%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

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. This will be the first time these hedge funds will be net short equity markets since November 2022, the bank said.

LONDON - 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.

CTAs have been long the dollar and are short long term U.S. Treasuries. These hedge fund have continuously bought the dollar through September, said UBS, estimating the total amount of buying to add up to $60 to $70 billion.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 47. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

CHARLEBOIS: $20-an-hour minimum wage good idea for fast-food industry?The ongoing debate surrounding the prospect of raising the minimum wage has been a burning issue both globally.
Source: TheTorontoSun - 🏆 23. / 68 Read more »

CHARLEBOIS: $20-an-hour minimum wage good idea for fast-food industry?The ongoing debate surrounding the prospect of raising the minimum wage has been a burning issue both globally.
Source: calgarysun - 🏆 63. / 52 Read more »