Tag Archives: risk

Risk Par(i)ty

One of the truisms of the current market is that volatility – both historical and implied –  is historically low, but just how extreme is it? How does this manifest itself in the bond, as opposed to the stock, market? What does it tell us about the risks we may be running by maintaining naked […]

Latest Edition

Please click the link for my latest thoughts, including a look at equity margin debt, the broad symmetry between today’s richest-ever & the 1980s’ cheapest bonds, the new natgas bulls, China, and gold.   17-05-29 M4 No 2