Andy Constan, CEO of Damped Spring Advisors, stated on X today, November 5, 2026, that he has adjusted his firm's market exposure. Constan reported, "Closed out the max long bond portion of this trade last night at 109 ish on ZB. Long bonds short stocks is an 2x anti growth bet. Still short stocks which is anti growth just half as much anti growth risk exposure for now. until I double my short stocks exposure which is what's next." The post detailed a specific trading action involving ZB, the symbol for U.S. Treasury Bond futures.
The market is currently weighing various economic signals, including inflation trends. Recent Gokhshtein coverage has noted that the bond market is assessing inflation's path, particularly after reports of China tying farm imports to U.S. tariff cuts. The Philippine inflation rate recently hit 7.8 percent, its highest since 2022. Additionally, the European Central Bank's December rate hike poses a threat to Nasdaq growth valuations, suggesting a cautious global economic outlook.
Constan's statement implies a tactical adjustment to risk, reducing the intensity of a position that benefits from slower economic growth. While scaling back the bond component, his firm maintains a short position in stocks, indicating a continued belief in an anti-growth environment. The stated intention to potentially double short stocks exposure next suggests a readiness to re-engage with a more aggressive anti-growth stance, depending on market developments.
