Goldman Prime: Hedge Funds Just Bought The Most Tech Stocks In Over A Year, Driven By A Brutal Squeeze

Late last summer, Goldman launched 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, and includes observations from such trading desks as Share Sales Trading, Futures S&T, Derivatives, ETF trading, Prime Brokerage and various sector specialists. We find it an indispensable piece for every serious trader as it reveals what Goldman's own traders think and do (not its useless research desk which merely feeds the bank's own traders with institutional flow), and below we excerpt from the latest full report for the benefit of our premium and professional readers (full analysis available to our pro subscribers in the usual place).

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SPX fell -0.4% on the week (after being up in 14 of the prior 15 weeks), as investors digest higher bond yields amid hotter than expected inflation prints against continued improvement in business and consumer sentiment.