That rejection wick off the highs was screaming danger for days, nobody wanted to see it, now everyone's wearing it.
Blaming a wick for a billion in liquidations gives the chart too much credit, people were just way over-leveraged and one nudge was always going to do it.
Real yields haven't moved. This is just thin markets doing what thin markets do.
That rejection wick off the highs was screaming danger for days, nobody wanted to see it, now everyone's wearing it.
Blaming a wick for a billion in liquidations gives the chart too much credit, people were just way over-leveraged and one nudge was always going to do it.