SocGen’s Swans Are Back And They Have Grown Since June…

It's that time again - time for an update on SocGen's "swans" chart. For the uninitiated, the SG swans chart is an effort on the bank's part to quantify the inherently unquantifiable; to attach percentages to "shock" events. The last update on the swans came in June, and it probably goes without saying that most of the downside risks have intensified or otherwise become more likely to materialize. It is of course true that U.S. equities eventually recouped losses incurred in February and Marc