Asset managers cut S&P 500 bullish bets by 21,120 contracts

Asset managers trimmed bullish exposure to the S&P 500 for the week ending April 28, cutting net long positions by 21,120 contracts to 998,208 from 1,019,328, signaling a pullback in institutional risk appetite for the broad U.S. equity index. Dealers/intermediaries reduced their net short by 13,687 contracts, while leveraged funds modestly increased net longs (up 5,314 contracts). E-mini S&P positions showed a similar decline of 20,112 contracts. The report also noted notable positioning moves in FX and Treasury markets: asset managers increased long exposure to 10-year Treasury notes and shifted positions in the Canadian dollar and Japanese yen. Overall, the data point to a cautious tilt among large asset managers that could temper near-term upside for the S&P 500 and influence volatility and positioning across rates and currency markets.