Jeff Gundlach

Morgan Stanley: "Well, That Escalated Quickly"

"One scary scenario is that the rise in volatility becomes self-fulfilling, with investors selling as volatility rises and markets move lower, driving more of both. For this risk, watch if new lows in the S&P 500 are confirmed by new highs in the VIX. This scenario is also scarier if realised volatility can stay near implied" - Morgan Stanley

"You Could See Panic": PIMCO Joins Gundlach In Loading Up On S&P Puts

"If we see actual military altercation, markets can go a lot lower. And at the same time, volatility has been so low for so long that it doesn’t take much for markets to get worked up.... you will certainly see panic if all of this turns into a sustained military encounter."

Why One Trader Thinks The "S&P 500 Just Topped Out For The Summer"

Summer market dynamics lend weight to the theory that the S&P 500 may have put in a multi-week high on Tuesday. The index’s price-to-book ratio is at its highest level since 2003. Yes, it’s been up here since June and it was way more elevated from 1996 to 2002, but it now matters because the mood has suddenly turned.

Dr.Copper's False Hope - "We've Seen All This Before, Too Many Times"

Copper prices surged to the highest levels since May 2015 in the last few days, prompting the ubiquitous "must mean the economy is doing well" narrative from every hope-fuelled reflationist. There's just one problem, we’ve seen all this before too many times.