US)
0.100
-7.41%
The Zhitong Finance App learned that a Goldman Sachs report showed that at the end of August, hedge funds abandoned short bets on banks in the US region and instead looked more at the US financial sector as a whole, and bank stock prices began to rise. According to a report from Goldman Sachs's bulk brokerage department, which provides services to hedge funds, US financial services companies, including banks, trading companies, and companies in the capital market, were the most sought after stocks in the week ending September 1.
Goldman Sachs said that the ratio of long positions to short positions in regional banks in the US has risen 26% since it hit a one-year low in mid-July 2023, when most traders shorted the sector. A short sale or a bearish bet is to borrow a stock to sell it in the hope that its price will fall.
Following the bankruptcy of Silicon Valley Bank, Signature Bank (SBNY.US), and First Republic Bank (FRCB.US), the US regional bank stock index has rebounded about 20% from the two-year low it hit in May. US Treasury Secretary Yellen said in May that almost all banks can obtain sufficient liquidity, but she warned that pressure on profits could lead to consolidation in the banking sector.
Goldman Sachs's report shows that since mid-July, short positions in major US banks have also declined, and long positions in hedge funds have increased by about 14% compared to short positions. Most of the stock purchases made by US regional banks are hedge funds buying back stocks borrowed for shorting, that is, so-called short repayment.At the end of August,Hedge funds hold net long positions in the entire US financial services industry, including large banks, savings and loan companies, asset management companies, credit services, and investment brokerage firms.
This page is machine-translated. Moomoo tries to improve but do not guarantee the accuracy and reliability of the translation, and will not be liable for any loss or damage caused by any inaccuracy or omission of the translation.
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