Nomura’s McElligott On Monday Momentum Massacre: ‘One Of The More Stunning Trades In Modern Market History’

Nomura’s McElligott On Monday Momentum Massacre: ‘One Of The More Stunning Trades In Modern Market History’

Monday's historic Momentum unwind showed up in some of the European equities price action on Tuesday as top-performing sectors sold off. "We can call it cracks in the momentum story, as a lot of the highflyers are being sold while the laggards are being picked up", Philippe Gijsels, chief strategy officer at BNP Paribas Fortis, told Bloomberg in an e-mail. He flagged "similarities" with what happened in the US to start the week. As a reminder, Monday's factor reversal was dramatic. Indeed, "dr
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7 thoughts on “Nomura’s McElligott On Monday Momentum Massacre: ‘One Of The More Stunning Trades In Modern Market History’

  1. Yet most of the economic metrics indicate a continued gradual slowing of the economy…..bonds clearly rallied too fast and too hard but this does not necessarily indicate a long term trend.

  2. “By the afternoon, though, the unwind clearly escaped from the lab, ran out the castle doors and charged down the hill into the village.”
    That is the single best sentence I have read in any market commentary ever.
    Thank you.

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