Buy-The-Dip In Danger From “Politicians Who Want To Change The Liberal Order”

We (and others) have talked a lot lately about mean reversion. More specifically, there's been quite a bit of discussion about the rapidity with which volatility shocks are quickly "arbed" (and we use that only half-jokingly) away by the overwhelming tendency of traders and investors to BTFD. As BofAML recently noted, the whole idea behind BTFD is now in question, as central banks look set to (try) and remove the $400 billion/quarter liquidity flow training wheels. Here's what BofAML said earl