The dangers in a highly correlated market

The dangers in a highly correlated market

Measures of volatility such as the VIX "fear index," the ratio of the implied volatility of S&P 500 put and call options, and the demand in the options market for protection against low-probability events, all say that investors and traders believe this is a...

Something different–and disconcerting–about today’s oil rally

I’ve got to say that the oil market seems very impressed with the impending meeting of oil producers–scheduled for March 20–that will, if everything goes right, produce promises from Russia, Saudi Arabia and other countries to freeze production at current record levels. A freeze would do nothing to reduce the current oversupply stored in tank farms and anchored tankers around the world.