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”.
“Price movements over this summer once again clearly emphasized the spot/gamma/realized vol dynamics”.
Some analysts and market participants are not amused.
Don’t forget the nuance, though.
“Classic ‘stability breeding instability'”.
“These trades worked well until the rotation started, and now are in the early stages of a collapse”.
“Bond risk in equity markets should not be overlooked”.
“The triggers in the short run could be geopolitical”.
This comes with the obligatory caveat that a single tweet could send everyone scurrying to safety, pushing yields back lower.
“By just looking at the price of the S&P 500 one cannot see the true state of equity markets”.
Needless to say, this isn’t the best news for some folks.
This should sound familiar.
Peering through the haze towards Jackson Hole.
“The market will likely continue to be dominated by disruptive tweets”.
Crystal ball gazing via a trio of possible scenarios.
For the embattled Fed chair, no rest for the weary.
‘Bleeds’ and ‘sling-shots’.
Fingers crossed. “Thoughts and prayers”.
Mind the 2020 implications.
“With a sense of urgency”…
So much for the summer “lull”.
“In the absence of conviction about the existence of political circuit breakers”…
It’s been a long time since the last Fed cut. Here are some key levels to watch.
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