European hedge funds have rapidly cut their exposure to U.S. banks since the beginning of the year, while roughly keeping their positioning in European ones, Goldman Sachs told clients in a recent report.
"In Europe, hedge funds have rotated out of banks and insurance into financial services in the past couple of months, but still positioning in European banks remains stronger than in U.S. banks," Goldman Sachs said in the report obtained by Reuters.
The Wall Street bank runs one of the world's biggest prime brokerages, which provides lending and trading services to investors and is able to see how large hedge funds and asset managers are moving.The data shows European investors are more bullish about banks on their own continent, while they have a more neutral approach to U.S. banks.
The Wall Street bank uses the so-called long/short ratio to gauge investors' sentiment, dividing long positions by short positions. By the end of June, this ratio for U.S. banks was close to 100%, meaning hedge funds are on average long one bank stock while short one bank stock.The gap between European hedge funds' positioning in European and U.S. banks has widened mainly after a crisis this year in which U.S.-based bank Silicon Valley Bank and two other lenders
Argentina Últimas Noticias, Argentina Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Goldman Sachs: 8 stocks set to catapult profits and sales in 2 yearsGoldman Sachs: Buy these 8 stocks that have nearly doubled the market's gains this year and are set to catapult their profit and sales growth over the next 2 years
Leer más »
Bitcoin, Ether Supply on Exchanges Fell in June: Goldman Sachs.GoldmanSachs says June was a record month for bitcoin miners’ inventory sales, as miners took advantage of the cryptocurrency’s strong performance. willcanny99 reports.
Leer más »
Goldman Sachs says A.I. will 'super-charge' music creation and names 5 stocks to buyGenerative AI is providing 'significant opportunities' in the music industry, according to Goldman Sachs, which says concerns over the technology are overblown.
Leer más »
Netflix Stock Price Target Raised by Goldman Sachs As Wall Street Sees Growth MomentumThe financial firm is the latest to say the streaming giant has regained its mojo after last year’s subscriber losses amid fierce new industry competition.
Leer más »
The 'Rule of 10' can identify next stock market winners: Goldman SachsThe 'Rule of 10' can help investors identify the next big stock market winners, according to Goldman Sachs
Leer más »
Americans haven't bought Biden's economic message. Wall Street might.Leading economists at big banks like Goldman Sachs and JPMorgan Chase have lowered their odds of an imminent recession.
Leer más »