Volatility across asset markets, but particularly global stock markets, leaped out of their collective skins this week.
Across sectors and global indexes, across asset markets order books gaped and that’s significant in terms of leverage. There has to be a bid on the order book for leverage to ever be considered. So watch this issue.
Anyway, here the Swiss team’s latest:
We have thin volumes. And even thin real bids and asks on world order books. The markets appear to have hollowed out by policy makers repeated interventions over the years. I’m very short on time here to comment and post right now but as of next week the desk beckons again and more time will become available again.
Apologies a little late but here GS nailing the equities with even a conviction 2 short the sp500 from last thursday. Their usd long high conviction trades look less convincing, until this week.