NAAIM Exposure Index – Investor Sentiment At 90.06, the NAAIM Exposure Index shows active managers remain all-in on U.S. equities — proof that animal spirits are alive and kicking. The National Association of Active Investment Managers Exposure Index represents the two-week moving average exposure to U.S. equity markets reported by NAAIM members. Image: NAAIM
CTAs Exposure to Gold CTAs have cut back on gold exposure, though they’re still sitting on a net long. A deeper slide in gold prices could force more liquidation if weakness persists. Image: Deutsche Bank Asset Allocation
CTAs Exposure to Equities Over the past four weeks, CTAs have tactically reduced equity exposure — down from the 90th to 75th percentile — cashing in gains across markets. Even so, they’re still notably long, riding the tailwind of a relentless equity rally. Image: Deutsche Bank Asset Allocation
International vs. Domestic Exposure Export-oriented U.S. stocks surged after the tariff pause announcement, reflecting growing investor optimism over easing trade tensions—though potential tariff policy changes remain key factors to watch. Image: Bloomberg
U.S. Dollar Exposure of Currency Hedge Funds Hedge funds have significantly increased their bearish bets against the U.S. dollar, reflecting widespread expectations that the dollar will weaken further against other major currencies. Image: J.P. Morgan
Hedge Fund and Mutual Fund Equity Exposure In a sign of optimism about the current economic climate, hedge funds and mutual funds have collectively increased their stakes in U.S. equities, which paints a picture of growing confidence in the U.S. stock market. Image: Goldman Sachs Global Investment Research
Are You More Likely to Increase or Decrease Equity Exposure Over the Coming Days/Weeks? Only 35% of JPM clients are considering increasing their exposure to equities over the coming days/weeks, indicating a cautious sentiment among them. Image: J.P. Morgan
CTAs Exposure to Bonds CTAs’ overall allocation to bonds in the 8th percentile indicates a relatively low exposure to fixed income securities. Image: Deutsche Bank Asset Allocation
CTAs Exposure to Copper CTAs have a bullish outlook on copper due to the anticipated surge in demand driven by infrastructure development and the global shift towards renewable energy sources. Image: Deutsche Bank Asset Allocation
U.S. Equity Exposure vs. ISM New Orders less Inventories U.S. equity exposure typically shows a correlation with the ISM New Orders less Inventories. Image: Nomura
Financials and Banking Exposure by Index The Russell 2000 has more exposure to financial stocks (18.5%) than the S&P 500 (10.5%). Image: J.P. Morgan Asset Management