TRADERS BRACE FOR S&P 500 VOLATILITY Investors are increasing hedges against broader S&P 500 swings as macro risks—including inflation, Fed uncertainty and geopolitical tensions—take center stage after earnings season. Goldman Sachs favors a reverse dispersion trade, betting on higher index volatility but lower single-stock volatility. Demand for downside protection is also rising ahead of the historically volatile August-September period.(*Walter Bloomberg)