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Don’t Blame CTAs Or Risk Parity For The Simultaneous Selloff In Stocks And Bonds
Fast forward 24 hours-ish from the Fed and markets participants were staring down a concurrent selloff in stocks and bonds.
10-year yields moved back up to ~2.56% on Thursday and while equities pared losses, the Dow was still down triple-digits.
It's was the dreaded "nowhere to hide" trade, although that might be a bit bombastic considering it's not exactly a bloodbath out there.
The biggest move in 5-year reals in more than a year didn't help risk sentiment, that's for sure.
However y
Where as the reflation narrative and Dovish tilt brought the needed reflex action to markets in Q1 reality sets in ..The Buffoonery of this Administration is not limited to Domestic policy alone but has insidiously spread into Foreign affairs. Currently we have three Geopolitical events that can derail the Equities worldwide Venezuela, Libya and the Iranian oil situation. In addition to Charlie’s take on this situation these can pose economic havoc worldwide at the drop of a hat..The main stream media and it’s henchmen would parse Powell’s every word to cover up what the real threats are.. Beware !!!
Maybe Powell should just say fuck it and not hold pressers. We can gather forward guidance from the dot plots and other sources. There is way, way too much focus on every word coming out of Powell’s mouth, and at this point I honestly find it counterproductive.