The ‘Absolutely Staggering’ Flows Behind This Week’s Fireworks

The ‘Absolutely Staggering’ Flows Behind This Week’s Fireworks

On Tuesday evening, while recapping the largest two-day gain for US shares since the tumultuous trading around the original pandemic shock, I wrote that "one certainly imagines some of the same second-order flows were in play during today's rollicking session." It was a reference to the knock-on effects from an options-driven rally turbocharged, of course, by policy pivot speculation. Fast forward to Wednesday, and Nomura's Charlie McElligott quantified the scope of those second-order flows. S
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3 thoughts on “The ‘Absolutely Staggering’ Flows Behind This Week’s Fireworks

  1. The bounce back in risk and ensuing loosening at every prospect of easing makes me believe the Fed can’t think about pivoting until we’re in the throes of recession. Markets need worries that aren’t CB related for the Fed to be able to relent without being counterproductive

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