Group 1 - Wall Street is experiencing a significant rebound after a turbulent April, driven by a shift in sentiment due to Trump's easing stance on tariffs and positive economic data [1][4] - Investor sentiment has been extremely bearish, with over 50% of respondents in the AAII survey holding a negative outlook for 11 consecutive weeks, surpassing historical records [1] - The S&P 500 index has seen 11 out of 14 trading days of gains, countering the expectations of investors who had sold off stocks at record speeds [2] Group 2 - High-yield bonds have regained profitability, with the iShares iBoxx USD High Yield Corporate Bond ETF rising nearly 4% in the past month [3] - The Chicago Board Options Exchange Volatility Index (VIX) has declined for several weeks since early April, impacting those who had maintained long positions in volatility [3] - Institutional investors currently hold a neutral stance on key currencies and U.S. stocks, following a significant drop in stock positions to the lowest level since 2020 [4] Group 3 - The outlook for risk assets is cautiously optimistic, as the combination of position adjustments and low expectations may benefit stock prospects [5] - The future direction of the market is contingent on the progress of trade negotiations, with investors awaiting the upcoming U.S.-China economic talks [5] - Despite the market rebound, investors remain cautious, with U.S. stock-focused funds redeeming approximately $24.8 billion in the past four weeks, the highest in two years [5]