Rich Privorotsky, head of equity trading at Goldman Sachs, stated that rapidly rising real interest rates are compressing risk appetite. He estimates that pension funds may sell a total of approximately $33 billion in equities during month-end and quarter-end rebalancing, with $11 billion corresponding to monthly rebalancing and $22 billion to quarterly rebalancing. Additionally, Goldman Sachs' CTA model predicts that systematic managers may sell approximately $5.3 billion in Russell 2000 index futures over the next week.