After 'Biblical Vol Reset', Nomura Lays Out The Conditions To Re-Short This Market

Trump’s “Escalate to De-Escalate 101” whip-saws the Markets yet again, and over the past week and a half, top Nomura strategist, Charlie McElligott notes that this has led to a biblical Vol re-rating lower, with the Spot Equities rally which most everyone was de-risked out of now turning relentless, as “buyers are higher”...

...an eye-water repricing in US Equities Volatility, with the extreme Spot rally paired with / a function of the UX1 and “Vol of Vol” crush…

When to Re-Short...