Here's a summary of the consolidated recap regarding GS positioning metrics:


CTA Corner: The current baseline for equities indicates some minor continued net buying, but, in contrast to bonds, the conditional equity flow from this group leans more towards selling than buying at present (Paul Leyzerovich / link).


GS PB: The GS Equity Fundamental Long/Short Performance Estimate increased by +1.05% from 8/8 to 8/14 (compared to MSCI World TR +1.89%), largely due to a beta of +0.91% and an alpha of +0.14%, benefiting from long side profits. Meanwhile, the GS Equity Systematic Long/Short Performance Estimate also rose for the third consecutive week by +0.32% during the same timeframe, due to an alpha of +0.24% from long side profits and a beta of +0.07% (link).


Buybacks: We are currently in the midst of the latest open window period, with an estimated ~90% of the S&P 500 in an open window, expected to reach ~92% by the end of the week (link).


Charts in Focus: Key indicators include the Sentiment Indicator, US Panic Index, Risk Appetite Indicator, SPX vs. Singles Skew, Call Skew vs. Put Skew, S&P Futures Liquidity, and Funding Spreads vs. S&P 500.


CTA Corner - CTA Flows:


For the coming week:

Flat tape: Buyers at $20.49B ($4.65B in the US)

Up tape: Buyers at $18.65B ($3.25B in the US)

Down tape: Sellers at $2.73B ($0.32B in the US)

For the next month:

Flat tape: Buyers at $35.63B ($12.45B in the US)

Up tape: Buyers at $37.73B ($11.85B in the US)

Down tape: Sellers at $183.73B ($67.39B out of the US)

Key Pivot Levels for SPX:

Short-term: 6270

Medium-term: 6045

Long-term: 5738