These ideas won’t all be right, and in fact they may all be wrong, but here are some themes that I think are worth watching…
- Surprise disruptive upshot in rates over the next 30 to 90 days likely, yield of the 5-year is the biggest gainer, 30-year is the laggard
- Long high yield trade begins to unravel
- Short vol trade begins to unravel
- Equities unravel, choppily, downside bias (prepping for an ugly 2018)
- Short term bottom in commodities (30 to 90 days), but not…