That said, risks come back into play starting in late August.
Category: volatility
The VIX Did Something Monday It’s Only Done 5 Other Times – And That’s Not Even The Punchline
A simple read: Markets are becoming more fragile all the time.
Nomura’s McElligott: ‘That Was One Of The Most Manic 36 Hours Of Trading I’ve Ever Witnessed’
There’s no room for the mincing of words.
Macro Tourist: This Is The Best Long Vol. Position Out There Right Now
“When he figures it out, there’s only one trade you want on the sheets”.
As ‘Large Local Risk’ Realized, Fed May Be Forced To Finance Political ‘Rationality Deficit’
“In the absence of conviction about the existence of political circuit breakers”…
Nomura’s McElligott On What Can Go Wrong If The Fed Keeps Guiding Expectations Lower
“From the perspective of a ‘give ‘em an inch, they take a mile'”…
Looming Catalysts And A Bad Macro Picture Are ‘Incongruous With Very Low Volatility’: Goldman
The second half of 2019 is likely to be “catalyst-rich”.
Summer Lull Meets Data Deluge, Earnings: Full Week Ahead Preview
Markets are ostensibly free to focus on the “fundamentals” again.Â
15th Percentile S&P Futures Liquidity Is Potential Land Mine In Selloff
A familiar refrain.
‘Bandit Logic’ And Gamma Gravity
Local stability, but mind the “bandit” at 1600 Penn.
Why Nomura’s McElligott Sees Scope For An ‘Optical’ Market Bounce
“This is where I expect [the] next wave of monetization in hedges”…
After Last Week, Goldman Asks: ‘What Would VIX Do On A Larger Downturn?’
The discussion always comes back to liquidity…
Nomura’s Charlie McElligott Recaps Critical Market Dynamics, Macro Themes In Sweeping New Interview
Around the world and back again.
Here Are The 4 Drivers Of The ‘Local Vol. Ceiling’
Fleeting stabilization?
Is Negative Convexity Risk ‘Flashing Red’?
Spoiler alert: “Not yet”.
Nomura’s McElligott On VVIX, More Mechanical De-Risking And ‘Pure Minsky’
“If you’re short vol, you make money…but eventually die. But if you’re long vol, you die before you make money.â€
As VIX Spikes, Trump Says ‘Sorry’, Not Sorry
“…we’re not going to be doing that anymore!”
The Appearance Of Routine Dip-Buying And A Fresh Look At The ‘Sell In May’ Cliché
It appears as though there’s always “someone” buying the proverbial dip – an invisible hand, as it were.
Nomura’s McElligott Weighs In On China PMIs, Warns Don’t Buy Into ‘Ridiculous’ Story About ‘Hedge Funds Shortest VIX Ever’
“Do NOT buy into the ridiculous ‘Hedge Funds Shortest VIX Ever’ as some sort of lame ‘complacency’ indicator.”
‘It’s Akin To The Exit Door Getting Smaller As More People Try To Run Out’: A Simple Explainer On Volatility-Liquidity Reflexivity
“…if this is indeed the case, the reflexivity in markets ratchets up by multiple orders.”
Gray Rhino Or Black Swan? Characterizing Vol. Spikes In A ‘Smart Power’ Regime
Oh, and in case the “gray rhino”/”black swan” fans are wondering…
It’s Quiet – But Is It Too Quiet?
Lifelessly adrift – again…
Deutsche’s Kocic: ‘In The Current Paradigm, Calm Markets Cause Volatile Politics’
Markets remain calm despite political uncertainty. How many times have you heard that statement or
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