So would it be fair to say that some short funds have 'MSCI small cap' mandates and hence have to cover their shorts by 29 Feb (rebalance date), which would explain the action today?
Assuming so, not all the shorts would have such restrictive mandate, so they can continue shorting. Likely majority of shorts?
Then there will now be other funds with MSCI micro mandates which may now start to short from 29 Feb. If they dare....
Banter and general comments, page-36746
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