North Korea Decides Now’s As Good A Time As Any To Launch Another Missile

No one should be surprised by this. Pyongyang is hell-bent on staying in the spotlight and Trump’s jaunt across the Mideast threatens to shift the focus away from the North/South tensions. So you know, some sabers needed to be rattled. They’re probably also intent on testing the mettle of new South Korean President Moon Jae-in.

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“We’re Approaching A Margin Call” – The “Trump Put,” Volatility, & One Analyst’s Masterpiece

“When expressed in options language, the Trump put has the same decomposition as the Bernanke put during the QE period. Effectively, this is a supply of equity vol to the market financed by “selling puts” on President’s credibility. However, in contrast with the Fed whose communications with the markets reduced volatility, the new political transparency, as communicated through presidential tweets and political discourse, has been generally volatility increasing.”

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