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- "Equity inflows from long only funds were at all-time high of about $180bn" in June
"Equity inflows from long only funds were at all-time high of about $180bn" in June
DC Lite #631
Daily Chartbook
July 01, 2026
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1. Challenger job cuts. US employers announced 45.8k job cuts in June, down -53% MoM and -4% YoY, representing the lowest total since Dec'25. AI was cited as the top reason for cuts (14k or 31%) and remains the leading reason for cuts YTD (101k or 23%).
2. Alt NFP. "Revelio Public Labor Statistics (RPLS) shows the economy added 258.8k jobs in June 2026. This gain was driven by significant job gains in the Public Administration, Professional and Business Services, and Health Care and Social Assistance."
3. Hedge funds vs. UST. "Hedge funds have become large leveraged players in the Treasury market, putting on either basis trades or swap spreads. I am less interested in their trades than that their share of outstanding UST has doubled since the beginning of 2022".
4. LOs vs. equities. "Equity inflows from long only funds were at all-time high of about $180bn" in June.
5. TMT vs. Defensives. Relative valuations for TMT stocks are approaching peak dotcom levels. Defensives are already there.
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