Fearless FOMC

FOMC - have no fear(?)

Extremely little risk priced for the FOMC meeting. Chart shows SPX 1 week implied volatility skew within one week of FOMC meetings.

Source: Nomura

Pushing it higher

Source: GS

The rise in net bulls

Source: MS

Put call depression

Source: MS

Banks - back with a vengeance

Source: Refinitiv

Flow and positioning in Banks

Source: Morgan Stanley

Mega cheap protection

Source: BofA

GS volatility observations

Bond volatility - last man standing

Source: Refinitiv