"Path Of Least Resistance Is Higher": Hedge Fund Short Selling Ends As Stocks Are Bought For First Time In 4 Weeks: Goldman PB

At the start of September, 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 and is aware which way the market flows before anyone else, introduced the inaugural edition of the US Equities Weekly Rundown: a weekly must-read compilation that consolidates the latest positioning and flows intelligence, market themes, and actionable ideas from various trading desks and risk takers across the Goldman 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).

Below are the latest highlights across the bank's key segments:

US stocks fell for a 4th straight week with the S&P 500 down -4.9% in September, the largest monthly loss YTD, as investors wrestled with market technicals and continued to digest the implications of a higher-for-longer rate environment as well as higher oil prices. Non Profitable Tech, Most Short, and Secular Growth stocks outperformed this week, while Bond Proxies, Renewables, and CRE Exposed names were among the worst performers