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There's literally nothing going on, Real Vision CEO Raoul Pal said during today's Daily Briefing while discussing the collapse of volatility in the bond market, oil, precious metals, and even Bitcoin.
Pal said these kinds of sideways markets kill you because either you're trying to time your entries and you get stopped out or you're just sitting on options and you bleed to death because nothing is going anywhere. Whatever you think about volatility, it's overpriced, he said, because literally all prices - even the Fed's balance sheet - are nailed flat.