Battered Wall Street short brigade is refusing to admit defeat
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Just like that, the panic on Wall Street has vanished almost as quickly as it arrived.Only weeks ago, traders from Singapore to New York were bracing for the economic fallout from President Donald Trump’s trade war. Global markets had shed trillions in value and American financial dominance faced its sharpest scrutiny in years. Now, the investment landscape looks markedly different. Trump is touting tariff progress on a near-daily basis — helping cool stagflation concerns while pumping up the “buy America and fade the fear” narrative once more. In turn, risky assets have mounted a swift rebound. The S&P 500 has just closed out its second-best week of the year, while credit and crypto have rallied anew. Yet for all that, a cohort of naysayers is pushing back. Short interest in the world’s biggest exchange-traded fund tracking the Nasdaq 100 has grown and now sits almost three times its February low. And in corporate bonds, bearish posi...