"Lazy Longs" Forced Through "Skinny Exits" But Nomura Offers Some 'Good News' (For Now)

Nomura cross-asset strategist, Charlie McElligott has some good news, and some bad news for traders wending their way through today's quagmire in the markets - the bad news is 'everything is crowded' and fragile; the good news is triggers for systematic  flows are a good distance away... but (he warns), given the crowds, things could change fast.