Skip to content
Subscriber Only

Smart Money Sidelined in Risk-On Rally Shows Not All Are ‘Happy’

  • Ebbing of trade tensions stokes equity gains worldwide
  • But short interest on bonds signs caution; volatility elevated
Updated on

The smart money wants more before it’s happy.

As the U.S. appears to step back from an all-out trade war, credit investors are staying away from the relief rally that’s stoked Asian and European stocks and spurred the biggest one-day jump in the S&P 500 Index since August 2015. That came after President Donald Trump tweeted “all will be happy!” with the results of the ongoing trade talks.