“Intraday movement is squelched”.
Category: volatility
‘2018’s Experiment Failed Monumentally’: Detox Is Hard
You can kill the patient if you’re not careful.Â
Here’s What’s Behind The ‘Relentless Bid For Stocks’
All of this is playing out against a backdrop defined by a (rare) dearth of news flow…
The World According To Charlie: Nomura’s McElligott On Macro, Markets And Gamma As The Most Powerful Flow In The Universe
“I view the world from the lens of volatility.”
Awestruck Investors Smitten With ‘Incredible’ Market Tranquility
It’s the flip-side of the overwrought, hair-on-fire rhetoric that accompanies selloffs.
‘Sudden Selloff’ Not Likely, But ‘Hedging Is Still Timely’, Goldman Says
“Monitoring conditions”…
Stocks Are Levitating, But Nomura’s McElligott Says Backtest Shows Potential For Pullback Amid Options ‘Extremes’
The longer we linger ‘up here’…
Marko Kolanovic Again Warns Of Potential ‘Crash’ In Low Volatility Stocks, Flags Massive CTA Commodity Short
“Low volatility crowding turned the conventional economics upside down”.
Liquidity May Be Disappearing In The Most Liquid Market On Earth
“In our view, the significant drop in rates market liquidity is not temporary”.
Nomura’s McElligott: Hedges Are ‘Being Lit On Fire’ Amid Unwelcome ‘Blast Of Good News’
“[We] should see some entertaining price action today!”
‘El Chop-o’ And What May Be Next, According To Nomura’s Charlie McElligott
Daisy chains, knock-ons and seasonals amid the macro melee.
Nomura’s McElligott On China’s ‘7 Deadly Sins’ And ‘Massively Skewed’ Investor Flows
“The ‘partial’ trade deal story was floated into the ether last week” to an underwhelming market “meh”.
‘It’s Happening Again’, Nomura’s McElligott Warns On Risk From ‘Daisy-Chained’ Crash Hedges
Dry kindling waiting for a match.
All Of This Summer’s Big Daily Stock Moves Had One Thing In Common…
“Price movements over this summer once again clearly emphasized the spot/gamma/realized vol dynamics”.
Liquidity Is Improving In Stressed Markets, Goldman Says – But Don’t Let Down Your Guard
“Markets dominated by computers have different characteristics than those run by people”.
Nomura’s McElligott Talks US-China Trade News, September Sequencing For Equities
“Merely ‘face time’ for markets and little more”.
‘Reading The News Would Suggest The US Is Already In Recession’: SocGen
One more shove and bond pricing will send a warning sign to equities…
Nobody Knows What’s Next As Trump’s ‘Crazy Like A Fox’ Strategy Keeps Markets Guessing
…but it’s still madness.
Nomura’s McElligott Weighs In On Trade Olive Branch, Outlook For September
“I believe risk trades higher into the ‘Gamma’ events mid-month”, but…
Nomura’s Charlie McElligott On China Tariffs: ‘September Selloff Window May Be Pulled Forward’
“The pieces were already aligning”.
As US Stocks Snap Win Streak, Hope And Caution Duel In Summer Heat
Peering through the haze towards Jackson Hole.
Marko Kolanovic: ‘More Than Half’ Of Recent Stock, Bond Moves Technically-Driven
“The market will likely continue to be dominated by disruptive tweets”.
Nomura’s McElligott Sees Local ‘Vol-Killers’, Tailwinds For Near-Term ‘Crash-Up’
“Here we are now, with all of this ‘crash’ now increasingly likely to ‘bleed out'”.
As Manic Market Moves Metastasize, Mind The Liquidity Drought
A recipe for “fun”.Â
Nomura’s McElligott Explains What Tariff News ‘Very Clearly’ Means For US Stocks
“…this re-pricing lower in the VIX complex should drive powerful second-order impacts”.
With Risk Assets On Razor Edge, One Strategist Sees Potential Near-Term Catalyst
‘Bleeds’ and ‘sling-shots’.
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