Goldman Sachs report: Hedge funds flock to the banking, insurance, and consumer finance sectors
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Goldman Sachs report shows that hedge funds rushed into banks, insurance, and consumer finance companies at the fastest pace in three months last week, due to increased trading activity and relaxed regulatory policies. The European bank index rose by more than 40%, while the U.S. bank index increased by slightly over 20%. Hedge funds raised their overall leverage to an eight-month high, primarily investing in North American and European markets. The Federal Reserve cut interest rates for the first time last week and is expected to cut rates further
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