Top of the Morning: CIO Strategy Snapshot - Sentiment drivers
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The string of nine consecutive positive weekly returns for the S&P 500 ended last week, with Friday being one of the worst days all year after the release of the May jobs report. Jason Draho, Head of Asset Allocation Americas from the UBS Chief Investment Office, joins to discuss
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4 itemsTop of the Morning: CIO Strategy Snapshot - Sentiment drivers
The desk interprets the recent downturn in the S&P 500, which saw nine weeks of consecutive gains end abruptly following the May jobs report, as a signal of shifting investor sentiment. Per the full note [source], the market's technical setup was increasingly vulnerable, highlighted by a staggering 15% rally in just two months preceding the drop—a level reached only 1% of the time since 1980. As traders have aggressively positioned for upside over downside protection, interest in call options being more expensive than puts indicates a hesitant market that could quickly recalibrate amid changing economic indicators.
Top of the Morning: CIO Strategy Snapshot - What’s driving market performance?
Top of the Morning: CIO Strategy Snapshot - What’s driving market performance?
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