Panic Buying: Hedge Funds Buy Most Stocks Since Dec 2023

One week ago we reported that while much of the second half of the year - and certainly since the August carry trade splat - felt like stocks were climbing a wall of worry in which the smart money was constantly selling into the low-volume meltup..

... everything flipped two weeks ago when, as Goldman's Prime Brokerage wrote, after 8 straight weeks of selling, hedge funds net bought US equities at the fastest pace in 4 months, driven entirely by Single Stocks which saw the largest net buying since Dec ‘21.