Wall Street’s fear gauge is acting up. It may signal trouble.
“The world is massively long equities in expectation that an interim trade deal will appear,’ Jeffrey Halley, senior market strategist at Oanda Asia Pacific Pte., said in an email Tuesday. ‘That has yet to happen and there is clearly increasing nervousness that it might not before Dec. 15 or even the end of the year,’ and probably as a result, a lot of downside protection is being bought.”
USAGOLD note: Is either side even truly interested in making an agreement at this juncture or do both sides see more value in awaiting the outcome of the election?