What If Extremely Short CTAs Are Squeezed: Goldman Sees $45 Billion "Systematic" Buy-In Risk
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During times of market volatility, "what inning are we in" is a constant question on the Goldman Sachs trading desk... and, according to Brian Garrett, the answer for most market participants is "it depends".
After two days of momentum-building, including the biggest one day move in the S&P since November, and the biggest short-squeeze since July, the answer to the question is becoming increasingly more critical.... for the bears who were this close to finally tasting victory for the first time in years.