US Equities Weekly Rundown

US equities ended the week lower as a strong labor market report sparked fears of a prolonged Fed pause. Despite the market downturn, hedge funds continued to increase net long positions, favoring Industrials and Healthcare over Tech.

Key Takeaways

• 1.US equities fell on the week (SPX -2.6%, NDX -4.5%) following a hotter-than-expected Non-farm Payrolls report that heightened Fed pause concerns.
• 2.Hedge funds net bought US equities for the third consecutive week, with Industrials seeing the largest net buying in five months.
• 3.Volatility surged, with the VIX reaching its first 20-handle of the quarter, as market participants grappled with shifting rate expectations.

Table of Contents

• Portfolio Manager's Summary
• What We Are Reading and Listening to This Week
• Prime Services
• US Shares Sales Trading
• Futures Sales Trading and Strategies
• Derivatives Sales Trading
• Thematic Baskets and Macro Observations
• Sector Specialists Highlights
• Disclaimers