Premium"Here We Go Again": McElligott Warns Levered ETFs Face Massive $35 Billion Dump Into Today's Close
"Here we go again." That's how Nomura's Charlie McElligott opens his Friday afternoon note, and you can almost hear the sigh. Just two days ago, the same cross-asset guru described a market "cleansed" of excess positioning, with a "general 'sigh of relief'" rippling across the AI trade and call whales lining up to buy Mag7 upside into earnings.
Then the hyperscalers actually reported.