Nomura’s McElligott On Markets After Soleimani Swan Song: ‘We Short Vol. Knowing We’re Backstopped’

Markets largely "behaved" (as it were) on Tuesday despite more inflammatory rhetoric out of Iran, where millions of people turned out over the course of a multi-day funeral procession for fallen general Qassem Soleimani. Risk assets stumbled a bit when Ali Shamkhani, the head of Iran’s national security council, said the leadership is pondering 13 separate options for retribution, but generally speaking, markets look poised to stay... well, poised, up to and until the regime shows its hand.

Join institutional investors, analysts and strategists from the world's largest banks: Subscribe today for as little as $7/month

View subscription options

Or try one month for FREE with a trial plan

Already have an account? log in

One thought on “Nomura’s McElligott On Markets After Soleimani Swan Song: ‘We Short Vol. Knowing We’re Backstopped’”

It just feels so complacent. When almost everything is perceived ok, not bearish, bullish, and rests on CBs, corp buying, etc it just seems like everyone is on one side of the boat. Sure Iran now seems to have cooled but there is a lot that could capsize this boat.

And if so I’ll be buying because the Fed has our backs as well as corps buying back stock………………… Just kidding.