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Citibank: US stocks may experience a pullback in the next three months.
[Citigroup: US stocks may experience a pullback in the next three months] Stuart Kaiser, head of US options strategy at Citigroup, stated that in recent weeks, the bank's derivatives trading department has begun to notice a significant increase in demand from asset management clients for products that short iShares indices or junk bond metrics. This may indicate that macro investors have developed a certain view on future direction, or suggest that they are hedging against the rise of risk assets. The fact that people are hedging credit risk indicates that they believe there will be a reasonable pullback in the stock market over the next three months.