Rates Volatility And The Indoor Trampoline

Everywhere you look: cracks, risks, land mines, volatility. And unlike June, July and August, recent tumult cannot be swept under the rug or otherwise written off by insisting that idiosyncratic flareups in far-flung locales like Turkey and Argentina aren't systemic; or by claiming that emerging markets are resilient enough to weather the Fed tightening storm; or by leaning on the assumption that because the consequences of an all-out trade war would be so dire, even the most irrational of acto

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2 thoughts on “Rates Volatility And The Indoor Trampoline

  1. Who teaches analysts to write “…..rising equity volatility is attributable to the implicit withdrawal of convexity which is being recycled and redistributed as convexity supply to the long end of the curve.”? Besides jokes, great reading. I even think I understood all.