Veteran Traders See Shades Of 2008 In Friday’s Action

In one of the more remarkable moves in recent memory (especially considering the low starting point), 30-year yields in the US dove as much as 33bps intraday on Friday to below 1.22%. It was Defcon-1. This began early in Asia and it never let up. As documented here earlier, Friday saw a series of limit-up, circuit-breaker halts in Ultras amid a combination of acute fears about the coronavirus, a generalized risk-off trade and an apparent convexity event. Nomura suggested this is more "forced h

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2 thoughts on “Veteran Traders See Shades Of 2008 In Friday’s Action

  1. We still have seen a capitulation except in Bonds perhaps … Excessive tampering over the years has come to a point where it is the only tool in the toolbox.. Result is that the system does the same thing at every inflection point and sits in awe when the results are the same…(negative)…
    The data is parsed over and over again and the remedies are more and more in the realm of the surreal…..It pays to step back and let your eyes focus …As I say it over and over …sometimes the simple analysis is the most accurate… I know H……is gonna’ grimace when he reads this (if he does) but I.m long Gold and short index futures fully well knowing my tail feathers could be smoking damn near any time now…
    This website on the other hand is a Godsend because the professional way it is managed and humility that it can project in all us wizards…
    thanks for that….

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