Considering macro risks across the world at the moment we find it surprising how quickly complacency has returned to risk assets, the VIX (Fear Gauge) is almost trading without afear in the world yet we are in the midst of a war in Eastern Europe and soaring inflation. In line with our bullish outlook towards stocks over the coming weeks we can see the VXX falling towards the 20 area in April where we will find the risk / reward extremely attractive – at least one of our positions that are exposed to equity upside will be under scrutiny at this point in time e.g. NDQ, VGK and IEM.
MM likes the VXX ETF down towards the 20 area
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iPath S&P500 Short-term Futures ETF (VXX US)
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iPath S&P500 Short-term Futures ETF (VXX US)
