On August 20, Deutsche Bank (Deutsche Bank) liquidity data showed that as global stock markets rebounded last week, investors who slashed their stock investments during the market volatility in early August quickly increased their holdings. Money poured into index options, super-large technology stocks, cyclical stocks and defensive stocks. Deutsche Bank said in a report on Monday that positions held by discretionary investors - who judge when to buy or sell - "jumped sharply last week, fully retracting [last week's] decline and are now well above average again", a sign of a rapid recovery from the sharp sell-off. The bank also said that trend-following portfolios, including "volatility control" funds - which buy when markets are relatively calm and sell in turbulent times to contain losses - had also "significantly increased" equity exposure, although positions remained "well below historic highs".