Nomura’s Charlie McElligott Explains Why Stocks Can’t Seem To ‘Really Sell Off’
Obviously, the macro narrative is a train wreck, but…
Category: CTA
Nomura’s Charlie McElligott Recaps Critical Market Dynamics, Macro Themes In Sweeping New Interview
Around the world and back again.
Is Negative Convexity Risk ‘Flashing Red’?
Spoiler alert: “Not yet”.
Nomura’s McElligott: ‘Carry Mania’ Is Back As Central Bank Vol. Suppression Returns ‘With A Vengeance’
“It all comes down to the renewed ‘Carry is King’ worldview in light of central banks being scared of their own shadows.”
Nomura’s McElligott Talks ‘Now Or Never’ Moments, Surging Rates Vol. And April Analogs
“Thus, the pullback window has to happen now.”
Nomura’s McElligott On ‘QE-Lite’, Friday’s Rout And, Of Course, CTA ‘Trigger’ Levels
“Back in the bond-buying business”.
Now Vindicated, Marko Kolanovic Explains Dramatic Market U-Turn
“… the answer to all of these questions lies in market liquidity.”
‘Perhaps That’s The Joke Here’: Nomura’s McElligott Wonders If The Fed Meeting Really Poses An ‘Event Risk’
“…with a Fed which has completely gone limp.”
Nomura’s McElligott: ‘The Window For A Pullback Has Opened’
But there’s a caveat…
A Goldilocks Cameo, A 1.7 Trillion Yuan Liquidity Shortage & The Latest From Nomura’s McElligott
“Just right” on the data stateside, while a “re-bubbling” in China holds RRR cuts “hostage”.
Nomura’s McElligott Delivers Update On ‘Ides Of March’ Risk For Stocks
“…we’d be at risk of seeing this very leveraged strategy turning a NET SELLER.”
‘Boom!’ Nomura’s McElligott Talks Possible Breakdown In ‘Bond Love Affair’ Ahead Of ‘Ides of March’ Risk For Stocks
“… it sets up a dangerous dynamic where ‘late-comers’ are forced-in.””