As S&P 6,000 Looms, Speculators Are Ramping Up Their Bullish Bets

Authored by Simon White, Bloomberg macro strategist,

US speculators look like they’re more confident in the stock rally persisting than foreigners are.

The S&P 500 is closing in again on the 6,000 level. But who’s primarily driving it? Foreigners have had to contend with a swath of potential risks in the last few months, the latest a possibility that their US investments could be hit with a punitive tax.