JPM report shows retail investors increasing stock holdings 📈
According to JPM data, retail traders have been actively increasing equity exposure over the past few weeks (+1.4 standard deviations above the 12-month average), with the majority of inflows being through ETFs, with a stronger focus on technology compared to the overall index. The preference for equities is quite clear (SPX -1.3 standard deviations, NASDAQ +1.2 standard deviations), while despite the strong rebound in fixed income, inflows into bonds have been relatively limited (+0.4 standard deviations), with CTAs estimated to be through short covering Increased equity exposure by nearly $6 billion, while institutional investors added $18 billion to long equity futures positions.
