Retail Radar: Jun 17 - Tech Craze Spillover to Communications

研报英文原文证据摘录

Retail Radar: Jun 17 - Tech Craze Spillover to Communications

J P M O R G A N Global Markets Strategy

18 June 2026

Retail Radar

Jun 17 - Tech Craze Spillover to Communications

Retail Trading Activity Overview Equity Strategy and Quantitative

Research

• After last week’s sharp swing in retail activity, positioning reverted to a Arun Jain AC

Tech & Communications-led, risk-on tilt as US-Iran tensions eased. Retail (1-212) 622-9454

arun.p.jain@jpmorgan.com

$ purchases returned to prior-week levels (72%ile vs 1y history, Figure 13RetailSingleStockActivitybySector($B)), J.P. Morgan Securities LLC

driven by a surge in single-stock activity (91%ile), while ETF purchases were AC Shizuka Suga, CFA

more moderate (27%ile). (1-212) 622-2134

• Retail investors showed limited reaction to Chairman Kevin Warsh’s first Fed shizuka.suga@jpmorgan.com

meeting, despite the FOMC’s dot plot delivering a much more hawkish than J.P. Morgan Securities LLC

expected message today, report. Retail flows modestly favored precious- Ana Pous Avila

metals ETFs and short- to intermediate-term Treasuries, funded by moderate (1-212) 622-0496

ana.pousavila@jpmorgan.com

selling of long-term Treasuries. Overall, the crowding in the Oil J.P. Morgan Securities LLC

Sensitive Outperformers vs. Underperformers (Figure 9CrowdinginOilSensitiveOutperformersandUnderperformers-converging) is beginning to show William Matheson

signs of convergence, with the Memorandum of Understanding emerging as a (1-212) 622-9538

potential catalyst. william.matheson@jpmchase.com

• Over the week, Tech quickly re-emerged as the primary driver of retail buying, J.P. Morgan Securities LLC

Khuram Chaudhry this time combined with Communications, as the prospects of a US-Iran deal

(44-20) 7134-6297

improved.