"The real currency of this world is not backed by gold, nor by oil, nor by bureaucratic fiat, nor even by direct military might. No, the real currency of this world is narrative, and the ability to control it..."
With most hedge funds doubling down, and going all in - even more - on their top positions, while fleeing some recent favorites, here are the Top 50 most popular longs and shorts within the HF community...
"...basically the Italian government would mail you a certificate that says it's worth a certain amount -- and you can sell that if you want to get the money quicker. But it would be likely to trade at a discount to its face value in euros..."
With Walmart unofficially set to close Q1 earnings season, all attention will remain glued on the interplay of the rates-dollar-oil trio, and judging by the somber overnight market action, traders are not too excited with the ongoing meltup in all three.