‘It’s Still Bleeding Over’: Strategist Warns On All-Important Chinese Credit Impulse
On Wednesday, Nomura’s Charlie McElligott outlined the case for a "monster" momentum rally in September.
Long story short (and there are some market puns in there), the rationale is down to seasonality and the idea that recent underperformance of consensus hedge fund strategies suggests a snapback.
There's been a "massive breakdown in equities' hedge fund performance" versus the S&P since June, he notes, a state of affairs that informs his call for "a mania in U.S. stocks come next mont