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…