Spekulative handlere er historisk lange i VIX positioner, altså de tror på yderligere stigninger i det amerikanske nervøsitets indeks, der stiger når aktiemarkederne falder markant. Et advarselssignal? ja.
fra Zerohedge:
Speculative traders have never – ever – been this net long VIX futures… and traders have not been this net short S&P futures since Summer 2012.
The VIX curve remains deeply inverted – the longest period of backwardation since 2011’s plunge.
And the crowd has ‘decided’ to pile into bond shorts – with 5Y Futures net shorts the largest in 7 years…
As is clear, the last time the crowd was this short, bonds ripped 250bps tighter, forcing a massive short squeeze.
With such extreme positioning across the equity, vol, and bond complex, it would seem no matter what The Fed does in September, there will be blood.
Charts: Bloomberg
