It‘s official now, Magnificent 7 is history, $TSLA didn’t make it. Who is next to drop out and Mag 6 becomes Mag 5? pic.twitter.com/1SZUDfXqRb
— Michael A. Arouet (@MichaelAArouet) March 15, 2024
The once-revered Magnificent 7 is unraveling, with Tesla ($TSLA) becoming the latest casualty. As the tech landscape shifts, speculation mounts on who will be the next to fall, potentially shrinking the Mag 6 to the Mag 5.
JPMorgan’s survey of Treasury clients reveals a concerning trend, with the largest net long positioning observed since January 29th. Meanwhile, asset allocators are hedging their bets, with 44% planning to increase exposure to hedge funds with a credit strategy, signaling cautious sentiment amidst market turbulence.
With tech giants stumbling and investor sentiment wavering, whispers of a looming bubble grow louder, casting a shadow of uncertainty over the market’s future.
"JPMorgan’s latest survey of Treasury clients shows the largest net long positioning since Jan. 29."@EddBolingbroke pic.twitter.com/fSoQQsAxaw
— Daily Chartbook (@dailychartbook) March 15, 2024
"Some 44% of [asset allocators] plan to increase their exposure to hedge funds with a credit strategy this year and only 3% plan to decrease it."
– GS Briefings pic.twitter.com/OISGnIdVHZ
— Daily Chartbook (@dailychartbook) March 15, 2024
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