😱 Oh là là! The Wall Street giant, Goldman Sachs, has revealed that hedge funds are cutting back their investments in bank stocks like a bored child tossing away a toy they’ve grown tired of.
According to Reuters, who got their hands on some juicy data from Goldman Sachs’ prime brokerage desk, these hedge funds have been dumping bank stocks for two whole weeks now! 😲 Instead, they’ve been buying consumer staple stocks at a pace that hasn’t been seen in nearly two years. 🏃♂️
It seems these clever hedge funds are exiting their long positions in US banks and global financial services companies, while adding short positions on European financial stocks. 💸
Goldman says that banks, financial services firms, and insurance companies were net sold, while those involved in trading and consumer finance were net bought. 📈
This news comes as Wall Street’s record rally is about to face a major test this week, with major banks releasing their second-quarter earnings reports. 📊
Meanwhile, hedge funds are buying consumer staples, which include food, beverages, and tobacco – items that are essential and tend to be insulated from economic downturns. 🍔🍺🚬
Goldman says this is the most net-bought stock sector at the Goldman Sachs prime brokerage desk this month. 📈
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2025-07-17 15:07