JPMorgan Desk Flags Risk-On Tilt Into Labor Data Release
What happened
A JPMorgan trading team moved to a constructive view on US equities heading into the labor-market print, Bloomberg reported. The positioning call came as the 10-year Treasury yield pushed past 5.25% and WTI crude rose 2.64% to $94.85. Strategists at the firm tied the stance to the upcoming jobs data.
The QL Read
The call lands against a risk-off tape: SPY down 0.92%, VIX up 9.95% to 16.35, and only 28.1% of stocks advancing. JPM's own QuantLogix composite sits neutral at 53/100 with shares down 1.19% today, while XLF lags at -0.89%.
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