Bearish Trades Crater Fast in Wall Street’s High-Momentum Rally
- Defensive ETF bets suffer losses as bullish sentiment endures
- Equity gains stay concentrated as equal-weighted index lags
Sky-high valuations, a foot-dragging Federal Reserve and an equally intractable political backdrop all put prudence at a premium.
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With each passing week, the bear case for Wall Street proves too tempting to pass up for a handful of gutsy traders.
Risky assets with lavish valuations march on against expectations, the group of stock winners stays stubbornly concentrated, interest-rate cuts get delayed once more.