Ok we just wanted to put a few tidbits of information out there, we have an estimated $32Bn or so Goldman estimation for pension fund rebalancing once again noting the continuing outperformance of equities vs bonds:
What this basically means without complicating things is that as equity prices improve vis a vis say the US Govt 10Y, the pension funds become increasingly overly allocated to equities and they must sell some of those positions out in order to keep their mandated allocation levels in equities and bonds. So this month GS is noting their estimations to sell are around $32Bn.
We also have the following data points to absorb especially in a muted trading session on Good Friday:
