Hedge Funds Are Dumping US Retailer Stocks
- Discretionary among most net sold sectors last week: Goldman
- Retail ETF continues to slide after worst week in over a year
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Hedge funds are turning more bearish on US stocks and retailers amid uncertainty about how Americans are coping with persistent inflation and elevated borrowing costs.
The group net sold global equities for a second straight week, led by North America and Europe, and at the fastest pace since mid January, according to prime brokerage data from Goldman Sachs Group Inc. Consumer discretionary was among the most net sold US sectors last week, with managers reducing long positions and shorting retail ETFs.