Selected institutional previews for US October seasonally adjusted nonfarm payrolls — prior +29k: Bank of the Netherlands +35k; Jefferies +40k; Mizuho Securities +40k; TD Securities +40k; Sparta Securities +48k; High Frequency Economics +49k; Barclays +50k; Baosheng Bank +50k; Moody's +50k; U.S. Bank +50k; Deutsche Bank +55k; Monex +55k; Bank of Montreal +60k; COMMERZBANK +60k; HSBC +60k; Morgan Stanley +60k; Stifel +60k; Sumitomo Mitsui +63k; Citigroup +65k; DekaBank +65k; UBS +65k; Wells Fargo

October’s AI-led market rout forced hedge funds into rapid liquidations and risk reductions, producing the largest active de-risking by stock-picking funds in over a decade, Morgan Stanley data show. Aggregate market exposure has fallen roughly 9% since June and by end-October more than 40% of funds were flat or negative YTD. Losses were broad-based—from AI and healthcare equities to high-yield corporate bonds—prompting pre-Thursday selling in many funds ahead of a further equity drop. Goldman Sachs noted TMT-focused hedge funds fell over 4% on Thursday while multi-strategy funds lost about 1.4%. Institutional managers are shrinking operations: Samlyn Capital (about $7bln AUM) narrowed its focus to financials and saw senior departures; Engineers Gate cut hybrid quant/discretionary teams; Walleye Capital eliminated several portfolio managers. Reported performance hits include Lone Pine down 8.8% in October and Arini Capital materially reducing bond holdings.

Meta Platforms (META.O) launched a Muse voice-conversation feature for its AI glasses and introduced a companion product called Muse Charm.