It looks like hedge fund positioning for 2025 is a big question mark right now, at least according to a report from JPMorgan's Prime Services unit. The firm recently described two setups in its "Positioning Intelligence" report for 2025 that are bullish for equity-market gains the following year, but unfortunately, neither of those two setups were in place at the end of 2024.
Data already baked in
In a recent report entitled "A Murky Positioning Outlook for 2025," JPMorgan said strong macro and micro data points have supported the increased bullishness toward the U.S. However, the firm also said the U.S. backdrop already reflects that data.
As a result, the JPMorgan team sees more downside risks than has been the case for...
