Leading into the weekend, when the debt ceiling had not been settled, markets were exhibiting very interesting positioning. To start, US Treasuries across the maturity spectrum were hugely out of favor. Net speculator positioning in options and futures was as short as ever. The charts below show the 2-year, 5-year, and 10-year US Treasury.
At the same time, investors were very short on stocks. The next couple of charts shows speculator net positioning in the S&P 500 and the MSCI EAFE Index (a proxy for the developed world ex-US).