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With Everyone Selling Stocks, Who Is Buying? Goldman Explains

With Everyone Selling Stocks, Who Is Buying? Goldman Explains

There has been some confusion in recent weeks about one unexplained aspect of the rising market: just who is buying?

The reason for the confusion is not only the previously documented buyer strike by the smart money (hedge funds, institutions and private clients), which as we reported a few days have sold stocks for 11 consecutive weeks.

 

Then last night, citing the latest EPFR data, BofA reported that retail equity investors are now also "risk-off" following $6.2 billion in equity outflows from all regions.

Frontrunning: April 15

  • Global stocks, dollar and oil cool ahead of Doha meeting (Reuters)
  • Oil Falls Before Doha as Global Markets Brace for Weekend Risk (BBG)
  • China Growth Slows; Revival Policies Appear to Gain Traction (WSJ)
  • White House hopefuls Clinton, Sanders joust in Brooklyn brawl (Reuters)
  • Trump talks up 'New York values' as protesters demonstrate against him (Reuters)
  • Sanders Can’t Clarify Wall Street Plan in Testy Clinton Debate (BBG)
  • Goldman's Blankfein Said to Push Deepest Cost Cuts in Years (BBG)

This Is What You Spent Your Entire Pay Raise On

This Is What You Spent Your Entire Pay Raise On

There has been some muted cheering at the Fed (and the Obama administration) when as a result of numerous statewide minimum wage hikes, average hourly earnings finally started to rise in early 2016, recently hitting a 2% annual increase, even if on a weekly basis they dropped to post-recession lows as the number of hours worked actually dropped confirming the decline in US output continues.

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