Business

Via Dana Lyons' Tumblr,

Fear finally made its way into the equity options market at the end of last week – at least for a day.

After months of (well-documented) investor complacency, recent stock turbulence has begun to introduce some fear back into the market. It has been manifested in the volatility market, as we covered extensively in our Vexing Vix miniseries last week. And after last Thursday’s sharp selloff, fear has now also crept into the options market – at least for a day.

Forget the "great rotation" from bonds into stocks - and certainly today when the 10Y dropped as low as 2.175% - a far greater rotation taking place currently is out of the US and into European equities, according to the latest monthly Fund Manager Survey released today by Bank of America.

Authored by Sumit Roy via ETF.com,

Can an exchange-traded fund get too big for its index? That's the question investors in one popular gold miner ETF are grappling with after rapid asset growth pushed it to significantly deviate from its underlying index.

Almost eight years after Sergey Aleynikov made HFT a watercooler topic after the former Goldman engineer was arrested (and incarcerated, then released, then charged again, then found innocent, and finally found guilty yet again) for allegedly stealing Goldman's proprietary HFT code, a trading software developer was charged last Thursday by the acting U.S.

The last week or so has seen both 'hard' real economic data and 'soft' survey data disappoint notably.

This has sent the Citi Macro Surprise Index plunging to 5-month lows with its biggest drop since 2010.

The question is - what happens to the stock market next?

Of course this is no surprise to bond traders...