hedge funds are getting crushed pic.twitter.com/OH4eV4k4CP
— Alastair (@StockBoardAsset) November 5, 2018
— M/1_LP (@MI_Investments) November 5, 2018
https://twitter.com/ThemisSal/status/1059476996193968129
Surprisingly calm mkt and lack of panic in options. S&P put skew is at bottom 5th percentile. Investors monetizing existing protection or selling puts for yield. Instead of "fear" out there, seems more have "fear of missing rally". Selloff could deepen further. #macro $SPY $ES pic.twitter.com/48aUI4RUHp
— Braversa (@Braversa) November 5, 2018
(QT: quantitative tightening) Fed is reducing its balance sheet assets, and this is increasing the supply of bonds, thus putting upward pressure on their yields, chart @JohnAuthers @bopinion https://t.co/fqBGYw6Xty pic.twitter.com/h2qeTUFitz
— ACEMAXX ANALYTICS (@acemaxx) November 5, 2018
Bad Moon Rising—-Buyback Trajectory Falling
The bottom line is simple, at least if you agree with the methodology. “If this trend continues, the extra boost that US repatriation provided to US equity and bond markets via share buybacks and corporate bond redemptions is largely behind us”, Panigirtzoglou concludes.
(JPMorgan)