Bonds Are "Working As Your Hedge" Again: McElligott Says Market Is Now Repricing An AI-Driven Growth Scare

Two weeks ago, Nomura's cross-asset guru Charlie McElligott told us that the market's only fear was of the right tail.

Today, the title of his latest note (available to pro subs) says it all: "REPRICING THE LEFT-TAIL...FAST."

Tuesday: "Not Yet." Thursday: Yet.