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EQUITIES COMMENTARY
Nov 15, 2024
The long / short report November 2024
The long / short report provides a geographic analysis of the long/short market by sector, using S&P Global Market Intelligence's securities finance short interest data.
Highlights from November's report include:
Despite a decline in utilization across global equities over the month, the short loan value, measured as a percentage of market capitalization on loan, increased in most sectors. The most significant increases were observed in REITs (+16bps), Commercial Services (+9bps), and Utilities (+7bps). The largest drop in short interest occurred in the Automobile sector, falling by 13bps.
The average short interest across US equities rose to 75 basis points over the month. Short interest increased in all sectors except Automobiles for the first time in several months, with Utilities up by 13bps, REITs by 12bps, Healthcare by 11bps, and both Capital Goods and Commercial and Professional Services, as well as Banks, rising by 9bps.
Average short interest across APAC equities fell to 55bps during the month, with many sectors experiencing a decline in short interest. Notably, significant increases were recorded in the Automobile sector (+14bps), Semiconductor and Semiconductor Equipment (+14bps), and Healthcare (+13bps).
Average short interest across European equities declined to 14bps during the month, with minimal movement observed across the region. The most notable changes included decreases in Real Estate Management and Development (-5bps) and Utilities (-2bps), while Telecoms saw a slight increase of 1bps.
Utilization increased by 107bps across the government bond markets, and 37bps across corporate bonds.
Please download the full report by clicking on the button above to read further details.
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This article was published by S&P Global Market Intelligence and not by S&P Global Ratings, which is a separately managed division of S&P Global.
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