Hedge funds add to a crowded long in the Magnificent Seven into month-end
Positioning reports look like last year's, which is either discipline or a trap. Desks are arguing both.
Elena VasquezSenior Markets Correspondent
Open trading floor with rows of workstations at night
NEW YORK — Positioning reports look like last year's, which is either discipline or a trap. Desks are arguing both.
Prime-brokerage snapshots showed net leverage in the seven names rising into the turn, even as single-name put skew cheapened — a combination that usually precedes a speech about fragility.
Elena Vasquez
Senior Markets Correspondent
Covers Treasuries, the dollar, and the policy signals that reprice risk assets.