‘Spectacular’ vol disconnect ‘ominous’ for risk assets
Historic divergence has caught the eye of Boaz Weinstein and others
Amid the chaos of historic bond market moves in recent weeks, it was a market surge that did not happen that caught the attention of Boaz Weinstein, the high-profile trader famous for betting against JP Morgan’s ‘London Whale’ in 2012.
Some measures of rates volatility have reached all-time highs during the recent turmoil. Equity volatility has risen, too. But the move has been far less dramatic.
“It’s a tale of two cities,” says Weinstein, founder and chief investment officer of Saba Capital
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