Long-only funds are buying stocks while hedge funds keep selling
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Long-only funds have increased stock purchases across all sectors, especially in technology, real estate, and financials, according to a Citi report. Conversely, hedge funds were net sellers, favoring healthcare, consumer staples, and technology while selling off in consumer discretionary and financials. Market indicators suggest expectations of a soft landing, with rising correlations observed in 'late recession' and 'soft landing' scenarios. Despite the weaker price action, Citi anticipates potential market catalysts that could influence these correlations moving forward.
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