JPMorgan：防御性持仓升温，Low Vol 因子拥挤度升至约 18% 分位
"The cautious backdrop (hyperscaler earnings, Anthropic S-1, Brazil, midterms, etc) has coincided with a further shift toward defensive positioning, w...
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JPMorgan 指出，超大规模云厂商财报、Anthropic S-1、巴西局势、中期选举等谨慎背景，推动市场进一步转向防御性持仓。Low Vol 因子拥挤度已从 6 月的约 0% 分位升至约 18% 分位。
来源：@dailychartbook · x.com