Risk-Off Into The Weekend?

While The Boomtown Rats "don't like Mondays", it appears that traders have a different take...

Thursday/Friday sessions have been painful for the S&P.

As Goldman Sachs trader, Robert Kaplan, shows in the chart below, over the last 90 trading days, Thu–Fri cumulative returns have lagged Mon–Wed by ~7.15%.

Notably, nearly all of this divergence (~7.28%) has occurred since Feb 28, coinciding with the Iran escalation, as investors appear to de-risk into the weekends.

Trade accordingly...

Professional subscribers can read much more from Goldman's Sales & Trading team here at our new Marketdesk.ai portal