摩根大通：2026年全球资金流向与流动性复盘报告（英文版）

The typical jump in the free float share after the expiry of the lock-up period in IPOs reflects a rather mechanical reclassification by index providers and is not necessarily the result of selling by insiders or other shareholders.• What is certain is that the inclusion of the anticipated big three IPOs into equity indices would necessitate sizeable passive demand from index inclusion and rebalancing.• We estimate $410bn of total passive buying once lock up periods expire, most likely during