So much happening and I'm mired in the vortex, the morass at work with barely time to create my usual C-/D+ quality content ie:
Anyway, rather than super ramble here are some short VIX bulletpoints:
China rules out UST selling in trade war
- was probably a non factor anyway but just another glimpse at the back end where the USD hegemony really cant come down from normal conditions and China, etc know it-
Pelosi renewed as speaker
- "the definition of insanity...etc etc" anything that is gridlock-ish or 'status quo' lends to the short VIX macro idea that as long as government is pretty split and sprinting toward the middle/moderate
(thought its hard to label her moderate left), then we have an environment where there is less political tail risk. (Despite Trump appearing to be the tail risk boogeyman, he has been pretty moderate, especially in his reversal on fed policy)
Powell's speech
Possibly the fed "blinking," although along with 10yr coming back from the 3.2% peak to ~3%, this
speech and current normalization set the course for a gradual decline. Again, in my sense "bullish" is just avoiding meltdown, a flat/choppy sideways market is 'bullish' for a short premium/ covered call, OTM short VIX plan.
