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Plenty of squeeze fuel
Markets are breaking out, positioning is washed out, and $30bn in quarter-end flows could light the fuse. SPX and NASDAQ are above key trend lines, while hedge fund longs sit at 5-year lows — plenty of squeeze fuel here.
Concordia Europa Invicta
Best quarterly run ever
It’s important to recall that the long-term, structural story remains strong. Let's have a look at what speaks in favor of a continued European rally and also some signs that we actually have arrived.
A Trillion Dollars of Selling
A key risk to the market
Foreigners hold a record amount of US stocks. And they have just started selling. Deutsche Bank says that there could easily be one trillion dollars of foreign selling. This is way bigger than the corporate demand (=the biggest buyer) estimated this year. Is this really the end of US exceptionalism ?
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