PremiumA Headwind For Equities Going Forward; JPMorgan Sees The Need For Deleveraging In ETFs
The investor deleveraging phase that began in June is still ongoing, and JPMorgan's global market strategist, Nikolaos Panigirtzoglou, expects more deleveraging in leveraged equity ETFs, options, and especially margin accounts.
This, he highlights in the note below (available in full here for pro subs) should act as a headwind for equities in the near term.