Hedge Funds Are Rushing to Get Out of Bearish U.S. Stock Bets
This article is for subscribers only.
Fast-money hedge funds are rushing to cover their bearish U.S. stock bets even as the equity rally threatens to break down.
Speculative investors bought a net 206,227 S&P 500 Index E-mini contracts in the week to June 23, the most since 2007, according to the latest Commodity Futures Trading Commission data. Net short positions in the contracts were at their highest in almost a decade as the U.S. equity rebound pushed the benchmark back toward record territory.