The "Peak Liquidity" Party Ends: Now Comes The $1.5 Trillion Liquidity Drain

As we discussed last night, Goldman's Sales and Trading desk was bombarded on Thursday by clients eager to know what has been behind the recent meltup in tech stocks. In response, Goldman shared several explanations starting with the near record Nasdaq gamma squeeze which saw the most NDX call buying since 2014...

... as well as several other mostly technical catalysts: