This Won't End Well

What could possibly go wrong?

  • Russell 2000 speculative positioning has never...ever... been more long.
  • VIX futures positioning is near its shortest ever.
  • Treasury futures speculative positioning has never...ever...been more short.

 

The 5Y is also at record shorts...

 

And in aggregate (2s, 5s, 10s, 30s, and Ultras)  - 10y equivalent positioning has NEVER... EVER... been shorter...

 

And crude...

 

And the USD...

 

Put another way...

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