We noted yesterday that the recent trend of increased volumes into Eurodollar future out-months was 'odd'...
But the sudden surge in interest in Eurodollar calls (vs puts) suggests more than just a few prop bets are being placed on the fact that The Fed does not hike rates in June.
In the past week, Goldman's warnings about an imminent market correction have been coming out on almost daily basis.
Two weeks ago - as of April 28 - we presented readers with a striking statistic from Goldman Sachs, showing just how much breadth in the market has collapsed and how dominant a handful of large cap companies have become in terms of both overall profitability and market impact:
Retailer woes continued this morning when Macy's reported another round of pitiful quarterly earnings, which saw comp store sales at owned plus licensed stores tumble -4.6%, below the already depressed estimate of -3.5%. On an "owned" basis, the miss was even worse, with Q1 comps sliding -5.2%,, almost twice as bad as the consensus estimate of -3.0%.
Having kept a relatively low profile for the past month, suddenly anywhere you look, there's Jeff Gundlach - between his presentation at Ira Sohn, his recent appearance on Twitter, and his latest DoubleLine webcast, the bond king has something to say. Today, as his preferred medium, he picked Reuters, where he told Jennifer Ablan what he said previously, namely that European and emerging markets equities are more attractive than U.S. equities, he also opined on volatility, saying that the VIX is "insanely low."