It is the 18th of October 2019

News

Someone Just Made An "Unprecedented" Bet On An Imminent Surge In Bond Volatility

Step aside "50 cent", there is a new mystery vol trader on the block, one who is certain that a vol quake is about to strike US Treasurys.

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Auto OEMs And Auction Houses Are Colluding To Prop Up Used Car Prices; It Won't Work

We've written frequently about the pending collapse in used car prices that will inevitably be brought on by a surge in leases over the past 5 years.  With wages stagnant and car prices rising, the only way Americans could 'afford' those brand new BMWs and Mercedes was to lease them.

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Why The Market's "One-Sided Stability" Is Becoming Increasingly Dangerous: Deutsche Explains

A topic that has been beaten to death both on these pages and virtually in every other financial website, has been the remarkable complacency in markets manifested, among other things, by near record low realized and implied equity vol, coupled with a recent plunge (if subsequent rebound) in cross-asset correaltions. Furthermore, as a result of habituation to both central bank and HFT dominance, and the relegation of human-driven, "actively managed" strategies, the "buy the dip" period has collapsed to a record short period of time, as every drop in risk is now simply an opportunity to "BTD."

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