Momo Massacre? Nasdaq Is Crashing As Major Factor Reversal Strikes

While the catalyst for this sudden move is unclear, the fact is a notable regime shift is underway today in factors as the long-momo-short-value trade is reversing fast as Treasury yields tumble.

Is this the start of a September-like reversal?

Notably the almost incessant rise in low-vol strategies is getting hammered today...

As all the insane high-flyers are getting hammered...

And that is weighing down the overall market...

And Nasdaq is collapsing...

Erasing the week's irrational gains...

With 30Y Yields back at their lowest since Sept 2019...

A notable break in the correlation between rates and momentum...

And Gold continues to surge...

Is reality finally setting in?