๐Goldman Sachs โSanta Rally Is Comingโ
- Seasonality of the end of the year + End of the presidential election
- the possibility of Santa Rally
- This year is the year when the presidential election is over.
- Average rise +2.6% based on the S&P 500 from November 5 to the end of each year and +3.38% in the year of the election
- The inflow of hedge funds is sustainable
- After Presidential Election Ends, Volatility Declines, Accelerating Hedge Fund Funds Inflows
- Weโve reduced our leverage ratio ahead of the presidential election, and now that uncertainty has diminished, thereโs a chance that our position will shift to the high-leverage situation before the presidential election
- November is a time when there are a lot of stock buybacks
- Nomura: End-of-Year Corporate Share Buyback Window Opens and Possible Boosts Upside
- HSBC: Share Buyback Offers Corporate Downside
- Goldman: Company Data Checks November Of The Year Is When Corporate Share Buyback Demand Is Highest
- Normally, an average of 10.4% of share buybacks are made in November
- Treasury yields are a risk factor
- However, if the government bond rate reaches 4.6%, the pace of stock rise could be put on hold.