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Tag Archives: Futures contract

“The World’s Most Feared Investor” Lashes Out At Safe Spaces

Several days after Paul Singer released his much anticipated letter to investors (key excerpts here), the founder of Elliott Management was profiled on Bloomberg as the "most feared activist investor in the world—by hedge fund rivals, companies and even countries", and for good reason. Singer’s Elliott Management, which manages $34 billion of assets, has not only rarely been out of the headlines the past 18 months - in the process targeting the world’s biggest mining company, taking on Warren...

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Anticipating “VIX Shock”, Interactive Brokers Raises Volatility Margins

Even as the VIX has continued to plumb new all time lows, unable to rebound from the realm of single-digits where it has spent a record amount of time in 2017, warnings about a potential surge in the volatility index have been growing in recent weeks. Last week, in a note looking at what may happen "if the VIX goes bananas", Morgan Stanley's Chris Metli cautioned that it’s easy to become numb to the low volatility environment and the risks it presents.  While trying to pick a trough in...

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JPM: “Investors Are Starting To Hedge Against A Crash”

It's probably not a coincidence that in the same week in which one of the most level-headed investors of all, Oaktree's Howard Marks issued an alarm on the current state of the market, that JPM has come out with not one (as discussed previously, Marko Kolanovic's latest "tipping point" note last Thursday was blamed for the small and sharp selloff at the end of last week), but two reports in which JPMorgan makes it clear that not only is the market on the edge, but increasingly more traders,...

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Gold at $1268, Now What?- Analysis

IF-THEN: Short Term Action via Moor Analytics  About: Moor Analytics publishes 2 reports daily for Gold, Crude Oil, and Natural Gas. Each report analyzes market activity that day and in context of the bigger picture. His Energy work is especially important for spread and seasonality traders. We are subscribers, and have Michael on our speed dial for quotes and comments on big moves and points of inflection like we feel the market is entering today. Here is what...

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Bunds Violently Whipsawed On Draghi Confusion

Is it a yoyo? Is it a penny stock? Is it the most "liquid" European government bond? To those who answered correctly - yes, this was the response of the German 10Y Bund yield to Draghi's prepared remarks and subsequent Q&A - congratulations. While it was not certain what specific catalyst(s) prompted the two inflection points, bund futures dipped to day’s low of 161.55 (-37 ticks) as Draghi said that the Governing Council will take decision “in autumn,” in line with source comments...

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Gold Rebounds From Overnight Mini-Flash-Crash

Around 4amET, someone decided it was the perfect time to dump around half a billion dollars worth of notional gold into the futures markets. The biggest single flush hit at 357amET with $228mm notional (around 1800 contracts) flushed to break below the 200DMA... This ripped the precious metal's price back to yesterday's lows before it was quickly bid back up by yet more machines. It has now recovered those mini-flash-crash losses.. and is back above the key 200-day moving average...

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One Trader Warns “We Just Heard A Distinct Chirping From China’s Coalmine Canary”

With the 24/7 pump from mainstream media that everything is awesome (look at record high stocks) - despite President Trump - it's all too easy to ignore collapsing 'hard' data, geopolitical turmoil, and the looming reality that the world's central bankers are taking a distinctly hawkish turn. However, as former fund manager Richard Breslow notes, overnight we just got a big reminder that butterflies' wings are flapping around the world, and no one knows when the chaotic...

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A Bearish Citi Warns “Bigger Forces Are At Play”, Pointing To Its ‘Chart Of The Week’

Over the next three weeks, the investing world will shift its attention away from the endless chatter of central bankers and concerns about the state of the economy, and instead focus on second quarter earning season, which launched on Friday with results from the three biggest US banks which showed that chronically low volatility is anything but good for trading revenues (as Jamie Dimon made all too clear in a bizarre Friday rant). As previewed last week, and is the norm, we get most of the...

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“Quant Quake”: What Was Behind Last Week’s Historic CTA Crash, And Is Another One Imminent

While on the surface the market last week did nothing all that exciting, below it things were in abrupt turmoil - driven by the decoupling between stocks and bonds and the volatile, countertrend move in commodities and oil in particular - which was nowhere more evident than in the world of Risk-Parity funds and CTA, which suffered their worst two-week plunge since 2003. A subsequent report from Bloomberg revealed that the damage among trend-following CTA was especially severe, "by some...

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Retail Investors Are Piling Into “The Most Dangerous Trade In The World”

It shouldn't be too surprising that the XIV exchange-traded note - which is designed to deliver the inverse performance of the well-known CBOE Volatility Index (or the VIX) on a daily basis - is attracting fresh attention after surging as much as 87 percent this year. But, as CNBC notes, some caution that investing in the exchange-traded product now could be deeply risky. This could be "the most dangerous trade in the world," according to macro strategist Boris Schlossberg of...

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