Since February, “nothing else matters” but the $200 billion or so per month of central bank money printing and asset purchasing. Correlations across asset classes are at or near record highs (putting risk parity funds in grave danger) with global bond yields at record lows and stock prices at record highs. However, as one veteran trader exclaimed, “they all on the same side of the boat again,” pointing to the record speculative long positioning in US equities and record speculative shorts in VIX…