The long / short report March 2024

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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 the March report include:

Short interest increased across global equities during the month. The largest increases were seen across the consumer services (+8bps), energy (+7bps), REITs (+6bps) and capital goods (+8bps) sectors.

Across US equities, average short interest increased to 88bps over the month. Short interest increased by +16bps across the energy sector, +14bps across the capital goods sector and by +7bps across the financial services sector. Short interest declined across the automobile sector by -13bps, the healthcare sector by -5bps and the semiconductor sector by -4bps.

Average short interest across APAC equities increased to 69bps during the month. The largest increases in short interest were seen across transport (+8bps), technology hardware and equipment (+7bps) and financial services (+5bps). The largest decreases were seen across household and personal products (-20bps), commercial services (-15bps) and automobiles (-9bps).

Average short interest across European equities increased by +1bps over the month to 19bps. General shorting activity remained subdued but small increases were seen across real estate management and development (+2bps), materials (+2bps) and REITs (+5bps).

Utilization increased by 31bps across the government bond markets, and remained flat on Feburay across corporate bonds.

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Originally Posted March 15 – The long / short report March 2024