Late last week, Goldman's Prime Brokerage, arguably the most actionable client-facing division at the bank as reports daily tabs on all the latest Hedge Fund activity, introduced the inaugural edition of the US Equities Weekly Rundown: a weekly 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 a must-read piece for everyone and we excerpt from the full report for the benefit of premium readers (the full note is available to pro subscribers).
* * *
The S&P 500 fell -1.3% on the week and finished below its 50-day moving average, as investors reacted to evidence of a still resilient US economy and higher oil prices against elevated interest rates as well as a weakening China growth profile. Obesity Drugs, CRE Exposed, and Bond Proxies outperformed on the week, while China ADRs, High Floating Rate Debt stocks, and Regional Banks were among the worst performers.
