How The Fed Created The Ultimate Paradox: Stocks At All-Time Highs With No Liquidity And Soaring Realized Vol
November 28, 2020 at 18:12 PM EST
For the entire duration of the record rally since the March "pandemic shutdown" lows there has been something off about the market: virtually every new all-time high took place at a level of the VIX that was also a new all time high.