Desk Color - Activity in US equities remain relatively quiet – there was a lot of short covering this morning that caused the rally into the green, but no “real” buying was behind that move. On a positive note, larger long-only vanillas haven’t been sellers over the last few weeks but really haven’t been looking to step in on the weakness either. The buying that is occurring is related to covering or from quicker traders looking for 24-48 hour long exposure.
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