Despite the market’s long-overdue rebound after a near-record 7 consecutive down weeks for the S&P (a 20yr record), the Fed has so far offered no help to risk assets and appears far from stepping in or triggering the elusive “Fed Put”. This is despite, as BofA’s Gonzalo Aziz warns in the bank’s latest Global Equity Volatility Insights note (available to pro subs), risks building in financial markets to an extent that central banks wouldn’t have allowed in years past.
Indeed, as we observed recently (see ” When Will The Fed Capitulate And Stop Hiking: Finally Some Good News For […]
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