Goldman Sachs: Investor risk appetite rises to a high level, market sentiment is optimistic

According to Jinshi reports, analysts from Goldman Sachs' research department pointed out that despite the escalation of geopolitical risks, investor risk appetite has increased from December last year to January this year. Research shows that margin account leverage has surged sharply since April last year, reaching the highest level since 2021. Retail investors are increasingly choosing assets outside of the "seven giants" of U.S. stocks, expanding their investment exposure to different regions. At the same time, investors are also increasingly increasing their short bets on the VIX volatility index, with the ratio of short positions to long positions reaching a ten-year high, indicating that the market generally expects volatility to decline.