Scott Rubner, managing director of Goldman Sachs' global market division and tactical expert, said that the U.S. stock market will go through two painful weeks starting in early August, and a large outflow of passive investor funds might weaken returns. Moreover, disappointing corporate earnings will force systematic funds to sell stocks. In the first half of 2024, there were record-setting inflows of stock funds, including ETFs and mutual funds, amounting to 231 billion U.S. dollars, while August, which normally witnesses the worst outflow of stock funds for the year, followed soon after. Funds have been fully deployed for the third quarter, and no inflow of funds is expected in August. "Buyers have no more ammunition, and I'm keeping an eye on the outflow of funds," Rubner wrote in a report to clients on Monday.
高盛的Rubner预计8月资金将大量流出美股
Goldman Sachs' Rubner predicts that a large outflow of funds will occur from U.S. stocks in August.
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