Notable Seasonals

Coming out of a turbulent week both for US equities and domestic politics, and looking ahead to mega-cap "tech" results, it's worth briefly highlighting the earnings seasonal in vol and correlation. I try to make a point of revisiting this every quarter when reporting season starts. Sometimes I forget. Not this quarter. As regular readers -- and those steeped in markets more generally -- are acutely aware, part and parcel of suppressed vol is a correlation crush. Low correlation supports retur