FOMO = Fear Of Momentum: "How Much More Pain, Is The Billion Dollar Question"

While global equities closed the week roughly flat (again), the headline number masks the underlying volatility. 

As Goldman trader Benny Quek writes in his latest Weekend Thoughts note (available to pro subs here), markets have largely ignored the ongoing conflict, oil price move, and rate move. Well not any more, and the three are now jostling for attention at once.