Stocks Are Doing So Well That It May Be Time to Start Worrying

Protection cost is lowest since at least 2008, per one measure
S&P 500 is on track for the fifth straight month in the green

WATCH: Adrian Zuercher, CIO and head of global asset allocation at UBS Global Wealth Management, discusses the current state of markets on Bloomberg Television.Source: Bloomberg

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By Elena Popina and Jess Menton

July 30, 2023 at 1:00 PM UTC

This article is for subscribers only.

US stock market traders are almost completely fearless now, which has some strategists bracing for a possible selloff.

The S&P 500 Index has gained 19% this year, pushing investors off the sidelines and into the market. Traders’ stock exposure is historically high, in the top 28% of all time, according to Deutsche Bank’s analysis of rules-based and discretionary strategies going back to 2010.