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Odd Lots
Bloomberg
Categories: News & Politics
Listen to the last episode:
The S&P 500 has plunged more than 5% over the past couple of trading days. The Nasdaq 100 is down 7%. The Nikkei fell an astonishing 13% on Monday and then triggered a circuitbreaker as it climbed up 10% on Tuesday. Meanwhile, measures of equity market volatility like the VIX have soared to their highest levels since the pandemic crisis of 2020. So what’s behind all these dramatic moves? There’s a long list of culprits, with market participants blaming everything from the Federal Reserve being behind the curve, to the deteriorating labor market and softer-than-expected payrolls data on Friday, as well as the unwinding of the yen carry trade, the bursting of the AI bubble, and the reversal of short-volatility trades. In this emergency episode of Lots More, we speak to Charlie McElligott, cross-asset macro strategist at Nomura, about what caused the selloff and how long it might last.
Read More:
$6.4 Trillion Stock Wipeout Has Traders Fearing ‘Great Unwind’ Is Just Starting
Risky Borrowers Discover Doors Are Closing in Bond, Loan Markets
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Previous episodes
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945 - Lots More on Solving the Mystery of the Big Market Selloff Tue, 06 Aug 2024
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944 - Matt King on the Hidden Forces Driving the Market Selloff Mon, 05 Aug 2024
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943 - Lots More: Did the Fed Just Make a Policy Mistake? Fri, 02 Aug 2024
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942 - Two Veteran Chip Builders Have a Plan to Take On Nvidia Thu, 01 Aug 2024
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941 - Zyns, Vapes and the Very Weird Market for New Nicotine Products Mon, 29 Jul 2024
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940 - A Top Miami Broker on the Booming Market for Ultra-Luxury Homes Fri, 26 Jul 2024
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939 - How the Hottest Hedge Funds on Wall Street Really Manage Risk Thu, 25 Jul 2024
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938 - The US and China Are in an All Out Race For AI Domination Mon, 22 Jul 2024
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937 - Lots More on JD Vance and the Future of the US Dollar Fri, 19 Jul 2024
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936 - A Guggenheim Executive's Radical Plan to Build Millions of New Homes Thu, 18 Jul 2024
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935 - Stephen Roach Warns of Disaster From Our 'Sinophobic' China Policy Mon, 15 Jul 2024
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934 - James van Geelen on Thematic Investing Right Now Fri, 12 Jul 2024
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933 - Joseph Stiglitz on How to Build Shock-Proof Supply Chains Thu, 11 Jul 2024
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932 - MMT's Godfather Says the US Government Is Spending Like a Drunken Sailor Mon, 08 Jul 2024
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931 - Lots More With Stinson Dean on Crashing Lumber Prices Fri, 05 Jul 2024
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930 - How Brazil Gave Birth to One of the World's Greatest Jet Makers Thu, 04 Jul 2024
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929 - How Brad Jacobs Will Invest $4.5 Billion to Reshape Building Supplies Tue, 02 Jul 2024
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928 - The Theory That Explains Why Everyone Went Crazy Mon, 01 Jul 2024
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927 - Lots More With Neil Dutta on a Looming Fed Policy Error Fri, 28 Jun 2024
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926 - The American Entrepreneurs Who First Opened The Chinese Market Thu, 27 Jun 2024
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925 - Why Tom Lee Thinks We Could See S&P 15,000 by 2030 Mon, 24 Jun 2024
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924 - CoreWeave's CSO on the Business of Building AI Datacenters Fri, 21 Jun 2024
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923 - John Arnold on Why It's So Hard To Build Things in America Thu, 20 Jun 2024
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922 - Evolving Money: Money Without Borders (Sponsored Content) Tue, 18 Jun 2024
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921 - The Big Trade Underneath the Strangely Calm Surface of the S&P 500 Mon, 17 Jun 2024
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920 - What a 'Degen' Crypto Trader Really Does All Day Fri, 14 Jun 2024
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919 - How Indonesia and China Cornered the Nickel Market Thu, 13 Jun 2024
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918 - Elon Musk Dominates Outer Space Like Nobody Has Before Wed, 12 Jun 2024
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917 - This Is How the Food Industry Is Preparing For a Post-Ozempic World Mon, 10 Jun 2024
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916 - Lots More with Kyla Scanlon on the Economic Vibes Fri, 07 Jun 2024
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915 - Orsted's Americas CEO on Fixing What Went Wrong in Wind Power Thu, 06 Jun 2024
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914 - Corporations Learned The Maximum Amount They Can Charge For a Product Mon, 03 Jun 2024
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913 - Lots More on the Two Troubled NYC Office Buildings Everyone's Talking About Fri, 31 May 2024
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912 - The Big Problem With the Modern Electricity Grid Thu, 30 May 2024
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911 - Are We Doing Decarbonization Totally the Wrong Way? Wed, 29 May 2024
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910 - How a Professional Sports Bettor Really Makes Money Mon, 27 May 2024
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909 - Lots More With Luke Kawa on Memestock Mania 2.0 Fri, 24 May 2024
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908 - How a DOJ Economist Approaches Antitrust in America Thu, 23 May 2024
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907 - Introducing: Big Take Asia Tue, 21 May 2024
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906 - How to Succeed at Multi-Strategy Hedge Funds Mon, 20 May 2024
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905 - Jeff Currie on Why Copper Is His Highest-Conviction Trade Ever Fri, 17 May 2024
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904 - Pierre Andurand Says the World Could Run Out of Cocoa Inventories Thu, 16 May 2024
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903 - Viktor Shvets on How the Fed Has Become a Prisoner of Its Own Making Mon, 13 May 2024
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902 - Lots More With Brad Setser on the Yen, a New China Shock and Excavators Fri, 10 May 2024
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901 - Hugh Hendry on the "Terrifying" Yen Move, and Risk of "Mad Max" Deflation Thu, 09 May 2024
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900 - What a Fed President Hears When He Goes on the Road Mon, 06 May 2024
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899 - Lots More on How CHIPS Act Money Got Awarded Fri, 03 May 2024
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898 - Luis von Ahn Explains How Computers and Humans Learn From Each Other Thu, 02 May 2024
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897 - The Ultra Wealthy Have Their Own Separate World of Real Estate Mon, 29 Apr 2024
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896 - An Ex-CIA Officer Explains How to Spot a Lie in Business Fri, 26 Apr 2024