Premium"Rekt": McElligott Says The Bond Short-Squeeze Just Blew Up Every "High Sharpe" Trend Trade
After three straight weeks of client marketing on three continents, Nomura's Charlie McElligott got back to his screens to find that the trends he left behind are no longer trending.
In his latest note, aptly titled "DE-TRENDED" (available to pro subs), McElligott says the defining feature of the market right now is a sweeping loss of legacy cross-asset "Momentum," one that accelerated sharply last week, and that it all traces back to one place: