Goldman Sees Pension Funds Offloading $32 Billion of Stock Soon
- S&P 500 has rallied almost 9% this quarter while bonds slipped
- Goldman estimates show larger-than-usual rebalancing ahead
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With stocks set to cap another strong quarter, pension funds are likely to sell an estimated $32 billion in equities to rebalance their positions, according to Goldman Sachs Group Inc.
That would be the biggest adjustment since June 2023 and rank in the 89th percentile among estimates over the past three years, wrote analysts at Goldman’s FICC & equities team in a note dated Tuesday.