One month ago, Goldman's Prime Brokerage, arguably the bank's most actionable client-facing division which keeps daily tabs on all the latest hedge fund activity, introduced the inaugural edition of the US Equities Weekly Rundown: a weekly must-read compilation that aims to consolidate the latest positioning and flows intelligence, market themes, and actionable ideas from thought leaders and risk takers across the GS franchise. It is an indispensable piece for every serious trader, and below we excerpt from the latest full report for the benefit of our premium and professional readers (the full note is available to pro subscribers).
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The S&P 500 fell -2.5% on the week and failed to recapture its 200-day moving average, as investors digested strong 3Q GDP growth, still elevated 10-year yields, and mixed mega-cap tech earnings. China ADRs, Bond Proxies, and Expensive Defensives outperformed on the week, while Non-Profitable Tech, Obesity Drugs, and Expensive Software stocks were under pressure.
