CoinVoice has recently learned that, according to Jintou Data, Citigroup has raised its year-end target for the S&P 500 index from 6300 to 6600 points. Citigroup's head of U.S. options strategy, Stuart Kaiser, stated that their derivatives trading division has recently observed a significant increase in asset management clients' demand for products that short iShares indices or junk bond indicators. This may reflect macro investors' expectations for the future direction of the market or indicate that they are hedging against the potential pullback risk of risk assets rising.

Kaiser pointed out that the behavior of hedging credit risk suggests that the stock market may see a reasonable pullback in the next three months. [Original link]