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 May’s report include:
During the last month, short interest increased across a number of different sectors across global equities. The largest increases were seen across the real estate management and development (+17bps) and the consumer discretionary (+16bps) sectors. REITs remained the most shorted sector across global equities with 1.28% of the sectors outstanding shares on loan. The largest declines in short interest were seen across the energy (-6bps), commercial services (-4bps) and financial services sectors (-4bps).
Across US equities, average short interest decreased to 84bps over the month. Short interest increased across a number of sectors with the largest gains being seen across the utilities (+7bps) and household and personal product (+7bps) sectors. The largest decreases were seen across the financial services (-11bps) and energy (-18bps) sectors.
Average short interest across APAC equities decreased to 58bps during the month. Short interest increased across the vast majority of sectors however in the region during the month with eighteen out of the twenty four sectors covered experiencing an increase. The largest increases in short interest were seen across semi-conductor and semi conductor equipment (+20bps), real estate management and development (+19bps), consumer staples (+14bps), and transport (+7bps) sectors.
Average short interest across European equities continued to increase over the month, growing to 22bps. Real estate management and development remained the most shorted sector with 0.8% of the sectors shares outstanding on loan. The largest increases in short interest were seen across the real estate management and development sector (+38bps), the consumer services (+7bps), and the capital goods (+3bps) sectors.
Utilization decreased by 4bps across the government bond markets, and remained flat across corporate bonds.
Please download the full report by clicking on the button above to read further details.
S&P Global provides industry-leading data, software and technology platforms and managed services to tackle some of the most difficult challenges in financial markets. We help our customers better understand complicated markets, reduce risk, operate more efficiently and comply with financial regulation.
—
Originally Posted May 11444, 2024 – The long / short report May 2024
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.
Disclosure: Interactive Brokers
Information posted on IBKR Campus that is provided by third-parties does NOT constitute a recommendation that you should contract for the services of that third party. Third-party participants who contribute to IBKR Campus are independent of Interactive Brokers and Interactive Brokers does not make any representations or warranties concerning the services offered, their past or future performance, or the accuracy of the information provided by the third party. Past performance is no guarantee of future results.
This material is from S&P Global Market Intelligence and is being posted with its permission. The views expressed in this material are solely those of the author and/or S&P Global Market Intelligence and Interactive Brokers is not endorsing or recommending any investment or trading discussed in the material. This material is not and should not be construed as an offer to buy or sell any security. It should not be construed as research or investment advice or a recommendation to buy, sell or hold any security or commodity. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.
Disclosure: Alternative Investments
Alternative investments can be highly illiquid, are speculative and may not be suitable for all investors. Investing in Alternative investments is only intended for experienced and sophisticated investors who have a high risk tolerance. Investors should carefully review and consider potential risks before investing. Significant risks may include but are not limited to the loss of all or a portion of an investment due to leverage; lack of liquidity; volatility of returns; restrictions on transferring of interests in a fund; lower diversification; complex tax structures; reduced regulation and higher fees.
Join The Conversation
If you have a general question, it may already be covered in our FAQs. If you have an account-specific question or concern, please reach out to Client Services.