专业投资者,在近期美股下跌前减持仓位的做法是正确的。融资利差(用于衡量期货、期权和掉期交易的长期需求)仍接近2024年5月以来的最低水平。该指标目前表明,标普500指数近期的反弹可能只是昙花一现。Professional investors were right to reduce their positioning ahead of the recent drop in U.S. stocks. Funding spreads—used to gauge long demand via futures, options, and swaps—remain near their lowest levels since May 2024. This indicator now suggests that the S&P 500’s recent bounce may be short-lived.
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