Goldman Sees More Selling in US Stocks by Households in 2023
- Turnaround comes after net purchases of similar size in 2022
- Overall investor positions remain elevated despite selloff
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Goldman Sachs Group Inc.’s strategists say households and foreigners could each sell US stocks valued at $100 billion next year, after making net purchases of a similar magnitude in 2022.
The demand for equities from households, the largest source of equity purchases since 2020, turned slightly negative in the second quarter, strategists including David J Kostin wrote in a note on Friday. Comparatively high valuations for US stocks and a slowing economy will drive net selling from foreign investors, they added.