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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

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.