ADVERTISEMENT
(Bloomberg) -- In a moment of bad market timing, hedge funds had increased their bullish bets on U.S. stocks to the highest since February, and second-highest in five years, just before last week’s sell-off. Speculative net long positions on S&P 500 Index e-mini futures had risen for the four consecutive weeks to Oct. 9, according to the latest data from the Commodity Futures Trading Commission. A rush to close those positions may have exacerbated the selling pressure in equities, which saw the U.S. benchmark gauge slump more than 5 percent in the following two days.
ADVERTISEMENT
©2018 Bloomberg L.P.