The Fed Is Increasing The Deductible Of Your Insurance

Back by popular demand: More Fed put analysis. All week long, market participants have been at pains to determine how far U.S. stocks would need to fall in order to trigger the "Powell put", which to date has never been observed in the wild. What's clear is that the days of the Fed put being struck close to at-the-money are over. On October 18, we highlighted a couple of quick excerpts from an analysis that  conceptualized the restriking of the Fed put as the normalization of beta and the