PremiumStocks rose on Friday though the S&P 500 still fell -1.4% on the week as investors digest the implications of surging long-term bond yields, Bessent "buyback doubling" game of chicken with the bond vigilantes, a decidedly mixed batch of consumer earnings, high (and rising) energy prices (especially diesel), and US policy uncertainty. Bitcoin Sensitive, Gold miners, and Bio-Processing were among the themes that outperformed, while NeoClouds, Drones, and IPPs were among the themes that logged the largest losses.Let's start with the top 5 themes as covered by Goldman's Delta One desk:
Hedge Funds Dump Stocks At Fastest Pace Since Liberation Day: Here Is What They Bought And Sold
After consistently buying US equities since late July, hedge funds reversed course this week and net sold US stocks at the fastest pace since Liberation Day week, driven by long-and-short sales in Single Stocks and Macro Products.
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