High-Conviction Bets Turn Toxic in Week of Wall Street Reversals

Wall Street entered 2026 all-in — record-low cash, minimal hedging, maximum conviction. Six weeks later, a slew of consensus trades are misfiring.

By Lu Wang (News) · Bloomberg Markets

Wall Street entered 2026 all-in — record-low cash, minimal hedging, maximum conviction. Six weeks later, a slew of consensus trades are misfiring.