This week's issue of Front Month is live - I give a full review of all the exchange earnings we've seen this week, picking out the stories worth watching:https://frontmonth.substack.com/p/making-sense-of-the-exchange-earnings?r=79stm&utm_campaign=post&utm_medium=web&utm_source=twitter …
-
Show this thread
-
There's a K-shaped recovery going on in the exchange space. Those exposed to ESG, passive investing, & rising work from home demand are winning. Those exposed to interest rate trading or unhealthy market volatility are losing.pic.twitter.com/RIEtnuc0Bl
1 reply 2 retweets 8 likesShow this thread -
Deutsche Boerse is hurting from low rates, but also from the 'CBOE problem' - its VSTOXX index (VIX of Europe) blew up in March and has been quiet since:pic.twitter.com/TIvJHHwXpa
2 replies 0 retweets 2 likesShow this thread -
The word "TAM" came up quite a bit across many exchange earnings calls this quarter. ESG TAM China TAM Swaps TAM Passive TAM Mortgage TAM Corporate Bond TAMpic.twitter.com/xVoayTFBLC
1 reply 0 retweets 2 likesShow this thread -
Ratings agencies (
$SPGI,$MCO ) played catch-up all year with guidance as debt issuance blew the doors off previous records. 2021 forecasts don't look to shabby either:pic.twitter.com/wnIUvczGU2
1 reply 1 retweet 8 likesShow this thread -
Cash equity volumes are highly correlated to the VIX. While it's hard to forecast volatility, the VIX futures term structure gives sentiment clues. 2021 is expected to stay quite volatile:pic.twitter.com/WgBTz0iaRX
2 replies 1 retweet 8 likesShow this thread -
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.
