Serious FOMO in US equity markets.

Market Overview

Year To Date Performances:

1. There's a robust surge of investor FOMO (Fear of Missing Out) in the US equities markets. Both the S&P 500 and Russell 2000 experienced new all-time highs in call option volume last week. S&P 500 options skew has reached its most bullish levels since 2019 or earlier. This FOMO is pushing aggregate equity positioning further into overweight territory as both discretionary and systematic strategies elevate their exposure. However, this enthusiasm might be a cautionary signal. The appetite for risk in stocks has ascended to its zenith since 2021. According to Citi, net positioning in the S&P is at its "most extended ever". Moreover, Goldman Sachs' Equity Sentiment Indicator indicates that positioning is the most overstretched since April 2021.

2. Crypto Market News:

   1. Bitcoin hit over $138,000 in a pump effort on Binance US.

   2. Invesco has filed for a new Bitcoin ETF in the US.

   3. Tether is launching its stablecoin on the Kava blockchain.

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4. Headlines

   1. Eli Lily is acquiring Dice Therapeutics for $2.4B.

   2. Twitter employees are suing the company for failing to pay out bonuses that were promised last year.

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   1. Additional Headlines

   2. State of Travel Post-Pandemic

   3. Fidelity, Charles Schwab, Citadel, Virtu, and Sequoia are all investing in a new industry.

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