Boy, I’ll tell you what: you people are yanking money out of bond funds like there’s no tomorrow.
Ok, so do you want to see something funny?
Looking for a new leading indicator? Here’s one candidate.
But remember, at some point people will start selling the underlying and that’s when shit gets really messy, especially if that selling ends up being prompted by massive outflows from the ETFs whose holders have no conception whatsoever of the underlying liquidity mismatch.
Translation: this is not a drill, dammit.
I remember when…
“We’ve come too far!”
What to say about Tuesday? Well, a lot actually.
All eyes on (geo)politics. And Canada. Of course.
Well, in what we can only describe as a sign of the surreal times in which we live (and trade)…
Just try not to focus on that, ok?
But for those interested in trying to “DO SOMETHING” (as opposed to just kicking back and being “actively” passive)…
Who’s afraid of a multi-asset drawdown catalyzed by a bond tantrum in 2018?