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While Rome Burned
Under heavy political fire, postmaster general (and Trump donor) Louis DeJoy promised on Tuesday to
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Great post.
Job well done for Louis DeJoy. Conducted as much teardown as he could. Then backed off when it was getting hot. Perfect. Re the “handful” of associates, it’s 200+ indictments (not including foreigners) and eight associates guilty…not including the president, of course. He’ll hopefully be able to add to the indictment count for his administration. Maybe we can see him off in cuffs after the peaceful handoff in January. That’d be a bump in the dollar.
Re vol, we’re back in the sweet spot like it was between about Sept 2019 and Jan 2020 for 1-month. The next few weeks starting in a couple of weeks would be a great time for another vol event. Get those tail risk allocations ready.
King dollar is way oversold. I don’t see a geopolitical event in the BoA charts. Maybe just traders taking the other side will be enough for a nice bounce. I’m keeping my eye on 91.
“Nomura estimates the vol.-control crowd has added $84.2 billion over the past three months, $23.4 billion over the past one month, and $6 billion over the past two days.”
Who is giving these managers so much money? And what performance numbers are they putting up?
Remember: vol.-control is not a monolith.