How did you find out not getting return offer

I recently interned at a MM top group. A couple of days after my internship, HR called and said they can't give me an offer at this time, due to the current market uncertainty. HR also said there aren't any negatives on my performance review and the group might reach out again in the fall if the situation changes. HR even encouraged me to reach out to ppl in my group asking for more feedback if I wanna.

Just curious if HR was actually lying about this and kinda questioning myself if I did something wrong in the summer. Any thoughts?

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