Systematic funds are aggressively selling global equities: Systematic strategies, which include CTAs, risk parity, and volatility-control funds, have sold -$80 billion in global equities over the last month, according to Goldman Sachs. Over the last week, this was particularly driven by Commodity Trading Advisors (CTAs), the algorithm-driven funds that buy and sell based on price trends. As a result, systematic positioning in US equities is down to $180.9 billion, the lowest since July. These funds are now expected to sell another -$70 billion in world equities over the next week and -$100 billion over the next month. US markets are expected to take the largest amount, with -$36 billion in projected sales. Systematic pressures are shifting amid the Iran War.(The Kobeissi Letter)