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JPM про позиционирование
Recent macro data hints at a Goldilocks scenario with falling interest rates, potentially leading to more market covering. Hedge Funds (HFs) show low YTD performance globally (~2%), which might spur a performance chase rally. In the US, there's been significant risk-averse behavior, with a possibility of a reversal boosting short positions. Riskier stocks have sharply declined, and CTA net risk to the Russell 2000 is at a historic low (1st percentile since 2002). US Credit Laggards experienced high net selling and short positions, with the Long/Short ratio at very low levels (9th percentile).