"This Feels Different": Goldman Flows Guru Spots Something Changing Under The Market's Surface

In what was a relatively quiet week by 2026 standards, one of Goldman Sachs' top traders reports that re-risking continued while equity volatility reset sharply lower.

Flows guru, Lee Coppersmith, says the dominant theme remains the collapse in single-stock implied volatility - and the resulting pain in dispersion - as hedge funds pile back into equities, Korea snaps its longest losing streak since 2008 with a 13% surge and plunging vol, and gold re-enters the conversation.