Citigroup revises its forecast amid robust hedging demand as Citibank's U.S. options strategist notes increased short positions on iShares indices and junk bond metrics, hinting at a potential market correction.
PANews reports that Citigroup has raised its year-end S&P 500 target from 6300 to 6600 driven by strong demand for hedging products among asset management clients. Citibank's U.S. options strategist, Stuart Kaiser, observed increased demand for short positions on iShares indices and junk bond metrics, suggesting that macro investors are positioning for a market pullback over the next three months.