‘Dancing On The Rim Of A Volcano’: Vol. Sellers May Get ‘Badly Burned’

Attempting to divine anything meaningful about sentiment from historically low levels of equity volatility has become an exercise in futility. Ditto for cross-asset vol. The ongoing provision of trillions in liquidity from central banks and the communication feedback loop between policymakers and markets which makes it impossible for anyone to form a long-term view, ultimately creates a scenario where volatility simply can't sustain a bid irrespective of how ostensibly dramatic any trigger eve