PANews, August 11 – According to Jin Shi Data, Citigroup has raised its year-end target for the S&P 500 Index from 6,300 points to 6,600 points. Stuart Kaiser, the head of U.S. options strategy at Citigroup, stated that its derivatives trading department has recently observed a significant increase in demand from asset management clients for products that short iShares indices or junk bond benchmarks. This may reflect macro investors' expectations for future market direction or indicate that they are hedging against potential pullback risks in risk assets. Kaiser pointed out that the behavior of hedging credit risk suggests that the stock market may experience a reasonable pullback in the next three months.