Results for “The Financial Futures Association of Japan”

…1% 0% 1% 2% 3% 4% 5% 6% While we consider demographics as an important long-term factor for investing (as discussed in the Third Quarter 2015 issue of Global Foresight: Investing for the Ages), in the short run, it is eclipsed by economic cycles and political changes. For instan...

…7 ATM call g nigp-47 Buy SPX Top50 volatility dispersion 27-Feb-16 Long HSI vs. SPX May-17 90% put switch 06-Feb-17 Buy the Nifty May17 95/105% strangle outright 20-Mar-17 Long HSBC May-17 65/70 call spread 3-Apr-17 Buy NKY Jun17 110% Call 02-Dec-16 Buy TPINSU Jun17 110-125% Call...

Last year witnessed a growing repudiation of this status quo, evident in the surprise outcome of the UK and Italian referenda, as well as US presidential election. As we begin 2017, these winds of change are gaining force. Central banks are acknowledging the often counterproducti...

also known as information markets and idea futures

regulated by the Securities and Futures Bureau; DSP

they lie in each other’s futures. The same scaling trends

regulated by the Securities and Futures Bureau; DSP Merrill Lynch (India): DSP Merrill Lynch Limited

A “Vixing” Puzzle Equity volatility has been unusually low for much of 2017. The Volatility Index (VIX), which measures the implied volatility of S&P 500 Index options and has been viewed as a barometer of equity market volatility, has drifted to all-time lows. Over a span of mo...

…in 2d [Chart 1] • While equities have shown less conviction over what a Trump win means (given strong sector rotation), the bond market has sold off with one of the largest moves in history [Chart 2 & 3] • Stabilizing rates volatility from here is key to markets remaining calm an...

…S&P 500: 2,047.63 S&P 500 Undervalued: 151.8% GAME ON [Updated 7/6/2016] By Arthur B. Laffer, Ph.D. Summary To save you the agony of plodding through this fascinating, information-rich paper, I’ll get straight to the point: Donald Trump will be the next President of the United St...

regulated by the Securities and Futures Bureau; DSP

ETNs or commodities futures-linked ETFs before investing. These types of securities may

Chart 13: The 2016 election move implied by the VIX term structure is, in our estimate’, approx. 1.4%... ---0--- Interpolated Oct future (level where Sep/Oct/Nov Fly = 0) —2e— Expected Oct future based on median level of ~1M/2M/3M fly em=@=—= \//X futures (adjusted for holidays)...

Dec18 div futures are trading only 1.5% below BofAML

sell 0.85x V2X Mar17 futures 17-Jan-17 -16.1v -14.32v Feb-17 expiry Unwind as the Feb17 call expired