Wall Street bank urges hedging into July’s CPI — as sell trigger hits highest level in eight years

Wells Fargo is advising investors to hedge ahead of July’s consumer price index. The bank’s sentiment indicator reached 1.4 in August, its highest sell signal level since January 2018, over eight years ago. This indicator takes into account the S&P 500 price, the CBOE total put/call ratio, net futures positions, exchange-traded fund flows, and the CBOE skew index. The bank is flagging an extreme reading of bullishness or bearishness in the market.

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