Systematic volatility-targeting funds (vault targeting funds) have largely completed their buying, reducing a key near-term source of equity demand, making future gains dependent on new catalysts such as recession probability shifts and Fed policy changes

factualpending

Speaker

Patrick Szna

Evidence Quote

Most systematic strategies have already done most of their buying

Source

MacroVoices #492 Daniel Lacalle: The End of American Exceptionalism?Macro Voices
Created: 8/11/2026, 7:39:51 AM

My Notes

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