"One Of The Top 20 In Our Data Set": Banks Warn Of Massive Month-End Pension Rebalance Selling This Week

Over the weekend, we summarized the key factors affecting trading in the last week of the month, quarter and first half as follows: liquidity, buyback blackout, dealer gamma positioning... oh and pension fund period-end rebalancing, or in this case outright selling. The question is how much selling?

First, the big picture: one look at the vast outperformance of equities over fixed income in June and Q2....

one of the top 20 in our data set banks warn of massive month end pension rebalance selling this week

Authored by Tyler Durden via ZeroHedge June 27th 2023