An executive at the banking titan Citi says that the S&P 500 (SPX) is not done rallying after most financial institutions were caught off guard by the sudden stock market recovery.

In a new interview on CNBC Television, Stuart Kaiser, Citi’s head of US equity trading strategy, says that after the weekend’s productive trade talks between China and the US sent stocks soaring, the uptrend will likely continue.

“I think there’s still room to the upside. I think if you’re someone who’s less positive and doesn’t want to be long this market but prefer to be short, those folks are going to step out of the way, and they’re going to let the systematic buying from risk parity, from VolTarget and from CTAs (commodity trading advisors) play itself out. There’s no reason to fight that. Those are emotionless buyers, and they’re not fundamentally driven. So you let that play out. And how much is that worth? It’s hard to know.”

To support his bullish stance on the SPX, Kaiser reveals that a lot of institutional players missed out on the meat of the recovery, and they may aggressively open fresh positions in the event of a market pullback.

“I would not try to step in front of this rally. I think you have to let it play out. I think it can run from here, because the bottom line is most institutional investors captured very little, if any, of the rally we’ve had to date. We were half joking, but you only had to own the market for 60 trading minutes to capture the entire 17% rally off the low.

The flip side of that means, though, if you didn’t own it for those 60, you didn’t capture much of it. It’s not a FOMO (fear of missing out). It’s a fear of ‘I missed out.’

And the question I think now is, do we get engagement, another level of engagement to the upside, or do people hope they get a little pullback and are kind of aggressive dip buyers? So, you know, I think there’s more upside, but it’s not a clean trade.”

As of Tuesday’s close, the SPX is trading for 5,886.

Follow us on X, Facebook and Telegram

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Surf The Daily Hodl Mix

 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

A leading real-world asset platform with nearly $4 billion in tokenized securities under management is partnering with VanEck to launch the global investment firm’s first tokenized fund.

In a new press release, VanEck announces the launch of VanEck Treasury Fund (VBILL) in partnership with Securitize.

VBILL is available for use on Avalanche (AVAX), BNB Chain (BNB), Ethereum (ETH) and Solana (SOL), all layer-1 blockchains.

Says Carlos Domingo, Co-Founder and CEO of Securitize, of the partnership,

“We are proud to continue enhancing how investors access tokenized securities.

This collaboration merges the best of Securitize’s fully integrated tokenization model with VanEck’s deep expertise of asset management. With VBILL, our combined efforts demonstrate tokenization’s ability to create new market opportunities with the speed, transparency, and programmability of blockchain technology.”

VBILL uses Secruitize’s tokenization, fund administration, transfer agency, and broker-dealer services.

Adds Kyle DaCruz, Director of Digital Assets Product at VanEck,

“By bringing U.S. Treasuries on-chain, we are providing investors with a secure, transparent, and liquid tool for cash management, further integrating digital assets into mainstream financial markets.

Tokenized funds like VBILL are enhancing market liquidity and efficiency, underscoring our commitment to providing value to our investors.”

Last month, the U.S. Securities and Exchange Commission (SEC) greenlit a new, crypto-related, “Oncahin Economy exchange-traded fund (ETF)” from VanEck.

Follow us on X, Facebook and Telegram

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Surf The Daily Hodl Mix

 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Sep21 Studio/cgterminal

JPMorgan Chase chief executive Jamie Dimon thinks the US needs to protect critical supply chains heavily reliant on China.

In a new interview with Fox 11 journalist Elex Michaelson, the CEO says the US government needs to prioritize its national security in talks with China.

“America should do what protects national security. That’s unilateral. It’s got nothing to do with trade.

Secure supply chains for penicillin, which we get 100% of from China. Medical ingredients, which we get like 80-90%. Rare earths – rare earths are not rare. They’re everywhere, but [China] has the biggest and cheapest production, so if you’re going to buy them, you’re going to buy them from China. That’s like 80-90%. Well, obviously, we need it to be somewhere else.

Then there are things like AI (artificial intelligence), semiconductor chips, things which can help their military, which is perfectly reasonable for us to not to want to help. Then there’s what I could talk about unfair trade – I would focus on strategic unfair trade. I wouldn’t worry that much about furniture, clothes and sneakers and things like that.”

The White House announced a trade deal with China over the weekend that saw both countries lower their reciprocal tariffs by 115%.

The markets jumped at the news, with the S&P 500 rising by 3.26% on Monday and the Nasdaq Composite surging by 4.35%.

Follow us on X, Facebook and Telegram

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Surf The Daily Hodl Mix

 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney