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Deutsche’s Kocic Details Trading ‘Paralysis,’ Disappearing RV
A "toxic combination" of factors has conspired to create "stifling" trading conditions in rates, where efforts to construct alternatives to the current status quo are frustrated by one or more obstacles.
That's according to Deutsche Bank's Aleksandar Kocic who, in a new note, described a strange, onerous reality defined by thin flows and the disappearance of relative value.
Kocic walked through two examples to illustrate a broader point about counterintuitive payoff profiles which ultimately s
Kocic’s analogy of “paying a high premium for high deductible insurance” for steepeners also nicely describes the current state of health insurance in the USA. Another unrelated example of something that is “doubly unattractive”
As a person who appreciates have been charged $0 for four different $400k health care events in the last few years, I’m keeping what I’ve got.