What The Vol Shock Hath Wrought
A couple of days ago, I noted that the reset higher in vol surely meant
A couple of days ago, I noted that the reset higher in vol surely meant
The yen. It’s never complicated, but somehow it never ceases to confound. If it seems
The Nasdaq 100 just had a very, very bad day. July 24 counted as the
You can’t say Bill Dudley wasn’t direct. “I changed my mind,” Dudley said Wednesday. “The
Coming out of a turbulent week both for US equities and domestic politics, and looking
Remember: Gridlock’s good. Or at least for markets. Over the last several weeks, which is
I spent a fair amount of time in recent days editorializing around the burgeoning tech
America’s mighty mega-caps were under siege on Wall Street mid-week. The Nasdaq 100 was down
The rotation hype escalated on Tuesday, when US small-caps yet again stole the show. I’ve
If you’re curious, the realization of a latent, mechanical equities bid from vol control cohorts
“Eye-wateringly dire.” That’s how Nomura’s Charlie McElligott described the vol environment in US equities, where
On some days (a lot of days, including the first day of this week) Nvidia
If you’re into nightmare scenarios, I’ve got one for you. I’ll keep it short, commensurate
Under-capture. That’s the name of the game for (too) many investors in 2024. The ultra-concentrated
Short interest on the two predominate ETFs tracking the most important US equity indices has
It’s probably fair to say US soft landing odds increased materially over the past several
“S&P 500 heads for record close as Nvidia soars, investors look for rate cuts,” read
I’ve written voluminously on the growing impact of ballooning AUM for derivative income products. The
Don’t look now, but there’s a regime shift afoot in the equities index vol space.
A four-week global equity rally faltered this week amid concerns around delayed Fed cuts. MSCI’s
Hopefully, most readers can recite some version of the flat skew narrative from memory by
It doesn’t pay to be long vol. The opposite, in fact. For a fleeting moment
The S&P closed above 5,300 for the first time on Wednesday as investors cheered a
Guess what? New records. New records for stocks. A month on from the local lows
Everyone’s in the “Anything But Bonds” rally and “no one’s in the long-end.” So said
Things were suddenly interesting. And then, just as suddenly, they weren’t again. The fleeting selloff
Remember the equity correction? If not, don’t worry. You didn’t miss something. There wasn’t one.
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