Goldman Derivatives Desk: "Signs Of Fear & Contagion Are Everywhere, But It's Credit That Is Scariest"

One week ago, when discussing the latest note from Goldman derivatives guru Brian Garrett, we summarized his view as follows: "Investors Brace For Crash As Desk Activity Is Indicative Of VIX At 35." And while there is still no crash at the broader index level, some of the moves at the single stock level are unlike anything seen since the Global Financial Crisis in 2008.