Hedge Funds Boost S&P Shorts to Decade High Before CPI, Earnings
- Net short positions at levels not seen since 2011: CFTC data
- Goldman’s clients cut tech longs at fastest pace in 15 months
The New York Stock Exchange (NYSE), left, in New York.
Photographer: Victor J. Blue/BloombergThis article is for subscribers only.
Hedge funds are reloading on bearish wagers on US equities, betting the latest market retreat will persist amid worsening economic data and corporate earnings.
Large speculators, mostly hedge funds, saw their net short positions in S&P 500 e-mini futures increase to roughly 321,000 contracts as of Tuesday, according to data from the Commodity Futures Trading Commission. That’s the most bearish reading since November 2011 following the downgrade of the US’s sovereign credit rating.