The old saying goes that can’t have your cake and eat it too. However that is exactly what the Federal Reserve is apparently attempting to accomplish at the moment, as chairwoman Yellen continues to assure that a rate hike is just around the corner, and this time it’ll absolutely be for real. Of course invariable by that date absolute economic perfection has yet to be achieved which naturally is why any meaningful hike in the federal funds rate continues to be looming just around the corner, in perpetuity.
It seems we once more have been spared from nuclear annihilation. Although if you somehow got clickbaited into any of the MSM shill pieces on North Korea then you’re probably reading this cowered below your bunkbed in your make shift nuclear bunker. I for one couldn’t be less worried, as years of consuming massive amounts of GM wheat beer has effectively rendered me impervious to any type of radiation. I don’t even use a flashlight at night anymore as certain body parts have started to emit an orange glow.
Alright you market mutants, it’s time to pay attention. There is a pretty good chance that we’re going to see a bonafide confirmed VIX [...]
Today’s post is dedicated to Scott Phillips, our resident enforcer and part time debt collector, who seems to have caught a bad break after what appears to have been a series of hare-brained decisions involving a mysterious Asian flu strain, mixed with over training, which was then exacerbated by excessive consumption of some long expired low cost GMO protein powder and unlabeled pain killers he found in some dirty dumpster around the corner. All of which combined of course put him straight in the ICU with acute kidney failure just a few days later. He’s actually lucky that he’s 10,000 km away as I feel tempted to personally come down and take him out of his misery [...]
Considering that equities are still trading a bagel throw away from all time highs it was fascinating to observe a 28% rise in implied volatility over the past week. Now I concede that current levels are probably more in line with where the VIX should be given that we’re heading into a seasonally bearish market period of the year. August has acquired a bit of notoriety over the years due to a handful of negative outliers, however on average it is September and not August that you should be worried about (see Tuesday’s post on the subject).