Revisiting The Hierarchy Of Vulnerability (Again)

The bottom line (or at least from where I’m sitting), is this…


Let’s Talk About ‘Extreme’ Moves And Volatility Spillover Some More, Ok?

And so the debate continues.

A Unified Theory Of Everything: From The Fed, To Volatility, To LIBOR To BTFD

Got all of that? 

‘A Taste Of The High (Vol.) Life’, Courtesy Of Goldman

Again, please: “We’re not in Kansas anymore.”

One Trader Asks: ‘When Will The Volatility Finally Spread?’

“Instead of mindlessly staring at the VIX to get a sense of the market’s volatility worries, I have created a new index.”

Have You Heard The One About The Dirty Shirt And The Flat Skew?

Ok, but who eats messy food in a spotless white shirt?

Goldman Isn’t Saying Now Is The Time To Hedge, They’re Just Saying If There Was Ever A Time To Hedge, It’s Probably Now


‘Rates < HY < IG < Equity': Hierarchy Of Vulnerability Revisited

“This seemingly counterintuitive result has a distinct ‘path-dependent’ flavor.”

Trader: This ‘Out-Of-The-Blue Outcome Could Hurt Some Market Players’

“While there can be no denying that stock markets often take the escalator up and the elevator down, this generalization is far from a law of nature.”

As Geopolitical, Policy Risks Build, This Is The ‘Hierarchy Of Vulnerability’

“…which market sectors are going to be the more vulnerable than the others?”  

Breathe In, Breathe Out

“Waiting to inhale.”

There’s Nowhere To Hide.

Good luck.

One Bank Sees Volatility ‘Spilling All Over The Place’

“…volatility across various asset classes can be at times highly correlated and hence the extraordinary growth of short volatility strategies might create risks.”

Goldman Asks The Big Question: Is This The End Of The Low Vol. Regime?

The narrative in 2017 revolved around two things…

The February Vol. Spike ‘Shattered All Previous Events In Terms Of Fragility’

Handle with care.