CTAs Trim Equity Positions, Ramp Up USD Shorts and Shift Into Energy: UBS Report
UBS reports that Commodity Trading Advisors (CTAs) have reduced equity exposure by about $10 billion over the past two weeks and plan another $10 billion of reductions in the coming fortnight. The selling bias has eased somewhat as earlier rally-related negative base effects drop out of rolling calculations. CTAs have notably expanded short positio…