Stimulus came and went…. SPX & VIX looks in perfect set up… Sovereign credit risk is back!

Stimulus came and went.

Real disposable personal income per capita (the most important income measure) is now below the pre-COVID trendline.

The trendline was only ~1.8% from 2009-2020. pic.twitter.com/0DwUr7YcTU

— Eric Basmajian (@EPBResearch) October 29, 2021

$SPX & $VIX looks in perfect set up pic.twitter.com/KqoMwg3dn8

— Vik Soien (@VSoien) October 29, 2021

Bears: BOTH $AAPL & $AMZN are down over 3%, surely now we'll have a down day! pic.twitter.com/z0xkGROfGl

— Sven Henrich (@NorthmanTrader) October 29, 2021

Amazon badly misses on earnings and revenue, gives disappointing fourth-quarter guidance

"Grandpa, what are puts?"

"Well, puts went extinct in 2021 when people realized that stocks are risk free instruments and they no longer needed downside protection." pic.twitter.com/3bh08HiD9b

— Sven Henrich (@NorthmanTrader) October 29, 2021

The best/worst is yet to come? #inflation 👇 ht @MikaelSarwe pic.twitter.com/t3YK2aeLL3

— Michael A. Arouet (@MichaelAArouet) October 29, 2021

If by "stagflation" they mean a transitory asset melt-up at the end of the cycle giving the false impression of a strong economy prior to explosion, then indeed this is it.

Because you CAN fool fools every time. pic.twitter.com/kPa5yp9yB5

— Mac10 (@SuburbanDrone) October 29, 2021

10-year yields in the Eurozone getting in on the fun today…

Spain: +10.4 bps
Portugal: +12.1 bps
Italy: +15.4 bps
Greece: +23 bps

Sovereign credit risk is baaaaaaack t.co/6AsOpcxR0B

— Brian Chappatta (@BChappatta) October 29, 2021