CTAs Add $40bn Equity Exposure

Systematic commodity trading advisors added roughly $40 billion to global equity exposure during the week, driving the fifth straight rally.
Faster and medium‑term CTAs rebuilt long US equity positions, while slower cohorts still have significant capacity to add more.
Bank of America projects about $20 billion of European equity buying next week, with modest US demand under medium‑speed models.
US Treasury yields rose after Fed Chair Powell’s final FOMC meeting, and CTAs increased short positions in UST and other sovereign bonds.