First Goldman, then RBC, and now JPM's top quant.
One month after JPM's head quant Marko Kolanovic warned that volatility is about to return and could lead to "accidents", the market timer also called "Gandalf" elsewhere for his prognosticative skills is out with a fresh warning, predicting "market weakness in the near-term" adding that he is cautious and urging clients to hedge equities.
With the Dutch Election behind them, it appears European stock investors see nothing but smooth-sailing ahead...
Europe's VIX collapsed overnight - by the biggest relative amount in its history - to close at the lowest level since the Euro began...
For context, this collapse compressed the relative risk premium for European stocks over US stocks to zero... something we have only seen historically at extreme systemic stress points...
Authored by Maria Polizoidou,
Yesterday we reported that in a dramatic escalation against the lockbox of Europe's cash, a package containing explosives was found at the German finance ministry. It was, however, unclear who had sent it. Today we have an answer: according to Reuters, the militant Greek group Conspiracy of Fire Cells has claimed responsibility for the parcel bomb that was mailed to German Finance Minister Wolfgang Schaeuble, German police said on Thursday.
From Nuisance to Threat: The High Cost of Truth
Paul Craig Roberts
When one gives so much scarce time and energy from one’s life to a large and unknown public, one needs to know that it is sufficiently appreciated to be a worthwhile use of one’s time and energy. This is especially the case when there are large costs associated with the commitment.
Your response to my quarterly request for donations showed me that enough of you value what I am doing to justify its continuation.