Leverage is quietly creeping back to 2026 highs after the July SALP blowup. The tell? AUM ratios for leveraged equity ETFs vs underlying market cap—especially in semis and hyperscaler single-stock products—are climbing again.
Memory stocks haven't seen the same jump, but they're still running hot.
This isn't doomsaying. It's pattern recognition. When positioning gets stretched, volatility finds a way in. Worth watching closely as we head into year-end.
Memory stocks haven't seen the same jump, but they're still running hot.
This isn't doomsaying. It's pattern recognition. When positioning gets stretched, volatility finds a way in. Worth watching closely as we head into year-end.
