TME Weekend: 10 things that you might have missed
The highest net leverage figure YTD
Morgan Stanley highlights that funds were small net buyers of global equities through Wednesday. Tech was the most sold, particularly within higher quality / mega-cap names. US Equity L/S gross leverage remained unchanged at 189%, while net leverage ticked higher by 1% to finish at 51%, the highest figure YTD. (MS)
Gross at 5-year highs
"Overall book Gross leverage +1.0 pts to 261.6% (5-year high) and Net leverage +0.3 pts to 68.3% (78th percentile 1-year). Overall book L/S ratio remained unchanged at 1.707 (8th percentile 1-year)" (GS Prime)