PANews reported on August 11th that, according to Jinshi Data, Citigroup raised its year-end target for the S&P 500 from 6,300 to 6,600. Stuart Kaiser, Citigroup's head of US options strategy, stated that its derivatives trading desk has recently seen a significant increase in demand from asset management clients for products that short the iShares index or junk bond benchmarks. This may reflect macro investors' expectations for future market direction or indicate they are hedging against a potential correction in rising risk assets. Kaiser noted that hedging credit risk suggests a reasonable stock market correction over the next three months.