Dammit Sophia! Artificial Intelligence Likely Played Role In February Selloff, One Bank Says

By now, the February trials and tribulations of the CTA crowd are well documented. For quite some time, folks had been warning that systematic strategies were running high exposure and could be vulnerable to forced de-risking in the event market conditions were to suddenly deteriorate and that's precisely what happened in early February. On February 8, we asked if CTAs (which have become the market bogeyman par excellence over the past several years) might have just suffered one of their worst