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CTAs ‘Poleaxed’ In Rates Rally, But Big Short Cover Still Distant Prospect
Those of you old enough to remember March may recall that the fireworks surrounding SVB's implosion
Thanks.
I assume something external is needed to drive short covering, especially with the tipping point rather far away.
So we’re back to watching macro, market, maybe geopolitical, for bond rally drivers. As for equities, earnings/revisions didn’t seem positive enough to drive a rally. Seasonality is positive but could be damped.