Tail Risks Of The Reconstruction: Nomura’s McElligott, BMO, Goldman Talk Rates, Stimulus, Election Nexus

Tail Risks Of The Reconstruction: Nomura’s McElligott, BMO, Goldman Talk Rates, Stimulus, Election Nexus

If everyone else zigs, you may want to zag -- at least for a hedge. With long-end yields stateside having pressed to multi-month highs on the assumption that stimulus is coming (if not pre-election, then in the lame duck session, and if not by year-end, surely by March), and as market participants increasingly view a Democratic sweep as the most likely election outcome, Nomura's Charlie McElligott wonders if it might be prudent to hedge the tail risks associated with "alternative facts," if you
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