September 04, 2024 at 11:58PM
Via a note from Goldman Sachs’ managing director for global markets and tactical specialist Scott Rubner on Wednesday.
“A market correction may start to get traction if payrolls are weak on Friday,”
Expects selling to pick up from September 16. GS estimates about US$6.6 billion of passive demand until company earnings buyback blackout period begins broadly on September 13
“US corporates have been the largest buyer of the equity market, and we expect their demand to drop by -35% during the closed window,”
“This week is peak open-window for corporates”
also, trend-following systematic funds have little room to add equity exposure
Rubner is bearish until after the election:
“November election becomes a clearing event for risk assets”
This article was written by Eamonn Sheridan at www.forexlive.com.
