JPM: The Squeeze Is Mostly Over; The Market Is Vulnerable As Most Funds Are Now Overweight Stocks
by Tyler Durden
ZeroHedge.com
04/03/2016
In a note released on Friday night, JPM’s Nikolaos Panigirtzoglou has several important observations, the main of which is that CTAs and risk parity funds – which appear to have driven March’s equity rebound – are both significantly overweight equities. As a result he points to figure 2 below as an indication of a “more vulnerable equity market relative to a month ago, with all of the above types of funds currently overweight equities apart from discretionary macro hedge funds which appear to be still close to neutral.”
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