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The Market Ear with the latest short-covering moves.
Feeling shorty
We have seen some brutal short covering moves over the past week. GS sales writes: “US equities have seen 5 straight days of short covers. In cumulative $ terms, overall short book saw the largest 5-day covering since mid-November (98th percentile 5-yr). Hedge funds actively unwound risk in US equities driven by short covers in Macro Products and Single Stocks.” And the year has just started…
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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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