Hedge funds pile into US stock rally at fastest pace in 2 years

LONDON (Reuters) — Hedge funds last week “aggressively” bought US stocks at the fastest pace in two years, Goldman Sachs said, with traders jumping into a stock rally fuelled by hopes that the Federal Reserve’s interest-rate pause might stick.

In the week up to Nov. 3, global funds bought up US equities in the largest five-day buying spree since December 2021, Goldman’s prime brokerage trading desk said in a note dated Friday.

This left some caught in a squeeze, the bank said, when short…