# Max Kettner, a strategist at investment firm HSBC (HSBC), believes that the stock market may have just flashed its first real buy signal since “Liber.

*business · news · 2026-04-06 · Markets Insider*

## Key points

- Max Kettner now sees last Monday’s S&P 500 low as a near-term market bottom.
- Kettner shifted bullish after observing increased hedging by both systematic and discretionary investors.
- Technical indicators like momentum and put-call ratios suggest investors are heavily hedged, supporting a market rebound.
- HSBC warns that a higher-than-expected core CPI could push 10-year yields into a 'danger zone' near 4.5%.
- If yields rise further, Kettner believes most asset classes could suffer except for the U.S. dollar.

**Companies:** HSBC
**Countries:** United States, United Kingdom

[Read the full story on Markets Insider](https://markets.businessinsider.com/news/stocks/the-market-flashed-its-first-real-buy-signal-since-liberation-day-says-hsbc-1035997365)

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