Hedge funds rotate into global industrials, cut US equity exposure

Hedge funds rotate into global industrials, cut US equity exposure

Hedge funds increased exposure to global industrials last week while trimming US equity positions, as renewed US-China trade tensions and a government shutdown triggered the sharpest US market sell-off since April, according to a report by Reuters citing client notes from Goldman Sachs. For the first time in seven weeks, hedge funds held net short positions in US equities, reflecting a cautious stance toward American markets. The shift came as t…