The long / short report October 2025

The long / short report provides a geographic analysis of the long/short market by sector, using S&P Global Market Intelligence's securities finance short interest data.

Highlights from October's report include:

Global Equities

Consumer Services maintained its position as the most shorted sector across global equities during the period following a marginal 1bps increase in short interest.  The largest increases in short interest were seen across the Materials (+5bps) and Software (+2bps) sectors whilst the largest decreases were seen across Consumer Durables (-14bps), Utilities (-6bps) and Household and Personal Products (-6bps).

US Equities

The average short interest across US equities decreased to 78 basis points over the month.  The largest increases in were seen across Transport (+11bps), Telecoms (+9bps) and Software and Services (+2bps). 

APAC Equities

The average short interest across APAC equities dipped to 64 basis points over the past month.  Increases in short interest were seen across Real Estate (+7bps), Transport (+6bps) and Consumer Services (+5bps).  The largest decreases were seen across Insurance (-15bps), Automobiles (-13bps) and Materials (-9bps).

EMEA Equities

The average short interest across EMEA equities declined to 15 basis points over the month.  Short sentiment remained muted across the majority of sectors with the only increases being seen across Commercial Services (+2bps), Materials (+2bps) and Consumer Durables (+1bps).

Fixed Income

Utilization increased by 42bps across the government bond markets and decreased by 8bps across corporate bonds.

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