Hedge Funds Have Never Been This Bullish About Small-Cap Stocks

Tyler Durden's picture

The last two weeks have seen the biggest increase in hedge fund bullish Russell 2000 positions since July 2008 pushing the net speculative long position for leveraged funds to a record high.

この2週間、ヘッジファンドがRussell 2000にとても強気で、2008年7月以来のことだ。

The reflexive combination of hedge fund shorts being squeezed and FOMC Drift pushed Small Caps higher early in the week, but notably since the cut-off data for CFTC reporting, Small Caps have dropped...


ヘッジファンドのショートスクイーズとFOMC論調が重なり、今週初めに小型株を持ち上げた、しかし最新のCFTC報告では、小型株は下落した・・・・


Over 57,000 Russell 2000 e-mini contract longs were added in the last two weeks - the most since July 2008 - leaving hedge funds at their most bullishly positioned in US small caps ever...


Russell 2000 e-miniでは57,000枚超のロングがこの二週間で積み上げられているーー2008年7月以来だーーヘッジファンドは米国小型株にかつてないほどに強気のポジションを積み上げている・・・


 

But as Hedgies piled (or were squeezed) into Small Caps, investors panicced out of S&P ETFs at the fastest pace since Brexit...


しかしヘッジャーは小型株に積み上げ(もしくはスクイーズ)している一方で、投資家はパニック状態でS&P500 ETFから早足で逃げている、Brexit以来のことだ・・・・


 

And as traders exited S&P longs, they piled back into bond longs (pushing aggregate Treasury positioning back to net long and crushing Eurodollar shorts once again as rate-hike bets are unwound)...


そしてトレーダーがS&P500ロングから逃げ出す一方で、彼らは債券のロングを積み上げている(債券ポジションはネットロングで、Eurodollarショートが再び急落、金利引き上げへの賭けが巻き戻している)・・・