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An Equity Funding Squeeze?
If you want to explain the price of something, a good place to start is supply and demand.
What was in demand post-election across markets? Equities upside, and specifically US equities upside.
You could see that everywhere. Steeper call skew, $90 billion of inflows to US equity-focused ETFs and mutual funds over just two weeks and on and on. I've been over it and over it.
By appearances anyway, a lot of folks went into the election over-hedged (on the downside) and under-exposed (to the upsi
Good piece
Thanks for the early Christmas gift.
Great article, I need and enjoy the education. Could you further explain enhanced gap potentials?