Two weeks ago, Goldman's Prime Brokerage, arguably the most actionable client-facing division at the bank which keeps daily tabs on all the latest hedge fund activity, introduced the inaugural edition of the US Equities Weekly Rundown: a weekly must-read compilation that aims to consolidate the latest positioning and flows intelligence, market themes, and actionable ideas from thought leaders and risk takers across the GS franchise. It is a must-read piece for everyone and we excerpt from the latest full report for the benefit of premium readers (the full note is available to pro subscribers).
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US stocks fell on Friday amid the 6th largest option expiry of all time, with the S&P 500 down modestly on the week. This week brought many micro/macro catalysts and evidence of “green shoots” in corporate & sponsor activity, as market participants await more clarity on the Fed’s intentions (FOMC next week). China ADRs, Rate Sensitive Financials, and Renewables outperformed, while Capex Beneficiaries, Housing Exposure, and Growth Software were among the worst performers.