Via Tony Pasquariello, global head of HF Sales at Goldman Sachs
The dominant narrative of the week was a return to trading COVID headlines, as the worst period for US case growth since April served as disruption for those expecting business-as-usual trading conditions this summer.
Along the way, stock operators absorbed another heavy dose of deal supply — adding to what will be a record month and record quarter for US new issue — with quarter end looming. On the week, S&P lost 2.9%, although one can reasonably argue the market traded with decently thick skin.
