Unprecedented: Hedge Funds Short Stocks For A Record 17th Week, Offset By Historic ETF Buying Frenzy

Late this summer, Goldman's Prime Brokerage, the bank's most actionable client-facing division which keeps daily tabs on all the latest hedge fund activity and is happy to share the data with a select group of top clients, started publishing 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. 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), 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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The S&P 500 rose for a 6th straight week and made new YTD highs, as investors digest a busy week of macro data and await US CPI + the latest central bank policy decisions next week. Bitcoin Sensitive stocks, High Retail Sentiment, and Regional Banks outperformed on the week, while Commodity Sensitive stocks, China ADRs, and Renewables were under pressure.