Since January there has been a stealth accumulation out the Curve.
In March it began to quietly accelerate.
While Algo's drove ZN into the 131s, buyers were gobbling up
each and every drive lower, building an outsized position which
saw Volume peak in May from May 2nd to May 31st.
Dark Pools began their acceleration in March.
There is a clear trend deeply concerned with an "Event" - one
which saw Volumes begin to accelerate June 16th.
Volatility in Bonds should begin to pick up dramatically.
Extreme Caution is warranted for Equity Complex, in particular
Technology and Regional Banking.
The VIX Curve, specifically SEP/OCT spread should be closely watched.
We are seeing clear signs of Backwardation that could quickly invert.
In March it began to quietly accelerate.
While Algo's drove ZN into the 131s, buyers were gobbling up
each and every drive lower, building an outsized position which
saw Volume peak in May from May 2nd to May 31st.
Dark Pools began their acceleration in March.
There is a clear trend deeply concerned with an "Event" - one
which saw Volumes begin to accelerate June 16th.
Volatility in Bonds should begin to pick up dramatically.
Extreme Caution is warranted for Equity Complex, in particular
Technology and Regional Banking.
The VIX Curve, specifically SEP/OCT spread should be closely watched.
We are seeing clear signs of Backwardation that could quickly invert.