If I Had ‘Wings’ I Would Fly, Let Me Contemplate: Nomura’s McElligott Flags Potential Path To Sloppier Price Action

For now, a combination of rates that "just can't selloff" and gamma "gravity" means US equities - the global risk asset bellwether par excellence - remain supported and perched near record highs and what some believe are nosebleed valuations. As stocks climbed again on Thursday morning, Nomura's Charlie McElligott reiterated why it is that bonds have had such trouble validating expectations for sharply higher yields in the first few weeks of 2020. "[A] Goldilocks US Economy with benign inflati

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