Goldman Prime: OWICs Galore, Hedge Funds Stopped-In During Biggest Squeeze Since Dec 2021

Exactly one week ago, we warned that the bears "faced even more misery" after the just released bullish news of a US-China trade war truce, due to the record liquidation in the "other" S&P futures category. Specifically, we reported that with respect to Other, longs fell -$10.8bn. Thus dating back April 8th, "Other" longs decreased in 3 of 4 reports for a cumulative -$35.6bn. Historically, this stretch had been rivaled by only 1 instance during COVID, and indicated that sentiment remained very much bearish, and the result would be a continued short squeeze higher.