美政府停摆危机化解在即，美股史诗级逼空行情一触即发？

Core Viewpoint - The resolution of the U.S. government shutdown is expected to inject approximately $1 trillion from the Treasury General Account (TGA) back into the economy, providing significant liquidity and potentially leading to a strong market rebound driven by liquidity rather than short covering [1][2][4]. Market Dynamics - The S&P 500 index futures have seen an increase of about $21 billion in open interest, indicating that the current market rebound is primarily driven by new long positions rather than short covering [1][3]. - Institutional investors are currently holding low positions, which could lead to a significant "short squeeze" if the market continues to rise [3][6]. Liquidity and Economic Impact - The TGA balance has surpassed $1 trillion for the first time since April 2021, indicating that over $700 billion has been withdrawn from the market in the past three months [6]. - The end of the government shutdown is expected to release substantial liquidity into the market, potentially leading to a surge in risk assets similar to the "invisible quantitative easing" seen in early 2021 [6]. Sector Analysis - Technology stocks have recently experienced their largest weekly pullback since April, attributed to high valuations, disappointing earnings, and macroeconomic uncertainties [9]. - Consumer sentiment has shifted, with companies failing to meet expectations facing severe penalties, while those exceeding expectations receive minimal rewards [10]. - The industrial sector is also facing volatility, with a lack of strong performance in November and heightened scrutiny on corporate guidance for the future [10].