The long / short report January 2026

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 January's report include:

Global Equities

Consumer Services maintained its position as the most shorted sector across global equities during the period followed by Commercial Services and Healthcare.  The largest increases in short interest were seen across Consumer Services (+17bps), Healthcare (+8bps) and Commercial Services (+7bps) whilst the most notable declines were seen across Transport (-35bps) and Utilities (-7bps).

  US Equities

The average short interest across US equities remained at 88 basis points over the month.  The largest increases in were seen across Household & Personal Products (+10bps), Commercial Services (+9bps), and Consumer Services (+5bps).  The largest decreases were seen across Utilities (-13bps) and Consumer Durables (-4bps).

APAC Equities

The average short interest across APAC equities decreased to 63 basis points over the month.  Increases in short interest were seen across Insurance (+16bps), Utilities (+12bps) and Commercial Services (+12bps).  The largest decreases were seen across Transport (-13bps), Consumer Services (-11bps) and Banks (-4bps).

  EMEA Equities

Average short interest across EMEA equities remained at 15 basis points during the month.  Short sentiment remained muted across the majority of sectors with only a small degree of variation seen across most sectors in comparison to the previous month.  The largest increases took place across Consumer Services (+2bps) and Materials (+1bps) whilst the largest decrease was seen across the Insurance sector (-3bps).

 Fixed Income

Utilization increased by 24bps across the government bond markets and by 11bps across corporate bonds.

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