Nomura’s McElligott On ‘Unprecedented’ Short Covering And A ‘Perverse’ Local Risk

Nomura’s McElligott On ‘Unprecedented’ Short Covering And A ‘Perverse’ Local Risk

"Futures positioning [is] now mattering in a big way for US Equities", Nomura's Charlie McElligott wrote Monday, flagging massive covering in what was a 0.1%ile Leveraged Fund net short position. This "unprecedented cover" (as Charlie dubs it) was +$23.9 billion across S&P, Nasdaq and Russell futures. Nomura calls the buy/buy-to-cover in Nasdaq and S&P futs "particularly extreme", in the 100th%ile and 99th%iles, respectively. "The surge in short-covering comes as traders wrestle with w
Subscribe or log in to read the rest of this content.

2 thoughts on “Nomura’s McElligott On ‘Unprecedented’ Short Covering And A ‘Perverse’ Local Risk

Speak your mind

This site uses Akismet to reduce spam. Learn how your comment data is processed.

NEWSROOM crewneck & prints