Market has demonstrated MORE fear in this move than Lehman?!?
Yes, this is a major correction. Now you have the numbers.
Bear in mind the marginal buyer/seller. Feels like ETFs/Passive (indiscriminate) are playing a large role.
For all the talk about slowing Chinese GDP and the stock market, it doesn't seem that they're all that connected. Convenient narrative?
Long Bond Outperforming...for a while now
Sentiment went from Bullish to Very Bearish --- Real Fast
In case anyone asks, What happened in China?
David Einhorn's Holdings - this month performance. Ugh.
Eurozone Credit Leading Equities Higher, ahead of Draghi in Jackson Hole
Spreads....
Bear Market Checklist
China is a big player in commodities, but not the only consumer
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