GS Hafif GS Flow of Funds Witching Hour
- Corporate Buyback Flow: November ranks 2nd highest for repurchases (48% by month-end), driven by AI trade concentration; full buyback impact expected late month amid structural sector shifts.
- Sector Disparity in Buyback Flows: Financials down 40% YoY vs.
- Energy (+480%), Utilities (+538%), and Consumer Staples (+140%) surging, signaling structural corporate demand realignment.
- Narrow Market Breadth & HF Positioning: Top 10 S&P stocks outperforming (6mo median return +10.1% vs historical median), with hedge funds at 87th percentile in Info Tech exposure, amplifying rotation risk.