![]() "Not even remotely believable, even for normies." "Fetterman? Really?" a QAnon influencer with over 220,000 Telegram followers wrote in a post baselessly claiming that the elections were rigged. Much of the conservative outcry surrounded John Fetterman's victory over the Trump-backed candidate Mehmet Oz in Pennsylvania, which flipped the senate seat from Republican to Democrat. Even some of the most typically fiery Trump allies, including former Senior Counselor Kellyanne Conway, admitted that the results were disappointing.įar-right users with large followings on Telegram were quick to falsely declare the elections rigged on Tuesday night as vote totals started coming through, and have continued to spread conspiracy theories about the vote. The MAGA internet - some of which began declaring that elections were fraudulent even before the polls closed on Tuesday - is in meltdown mode over the midterm elections. Lauren Boebert and Arizona gubernatorial candidate Kari Lake are in too-close-to-call races they could easily lose. ![]() In particular, multiple far-right, Trump-endorsed candidates lost their elections, while MAGA favorites like Rep. Many pundits and politicians predicted the 2022 US midterm elections would be a "red wave" or even a "red tsunami," but as the results finalize, it's looking like GOP candidates underperformed. The economist David Rosenberg and BTIG strategist Julian Emanuel, among others, have conducted studies showing that the index at 40 and above has been associated with equity losses since its inception in 1990.Account icon An icon in the shape of a person's head and shoulders. ![]() And if last week's market action was any guide, investors may continue to fret over record levels of daily coronavirus infections in the US and soaring cases in Europe.ĭuring last week's sell-off, the VIX rose above 40, its highest level since mid-June it tends to move in the opposite direction to the S&P 500. In essence, a liquidity-strapped market is hurtling towards a period of political uncertainty with no definitive timeline. This could be on account of several reasons including the current market conditions." While not shown, there was also more liquidity in the VIX futures prior during the October 2016 compared to now. "In contrast to this, during October 2016, the term structure was in contango and there was a higher variation in the levels of the near vs. That said, what makes this year different? Allow Narayanan to explain: The spread was also in the ballpark of its location prior to the 2016 election. ![]() That's because traders expect a heightened period of volatility in November, followed by calmer times in December and early 2021. ![]() In other words, traders usually expect volatility to increase with time.īut the VIX futures curve recently bucked this trend is now downward-sloping, entering what is known as backwardation. Under normal circumstances, VIX futures contracts get pricier the further out into the future they go, and this produces an upward-sloping line on a chart. The prices of VIX futures contracts are showing that traders are pricing in a wild ride shortly after the elections. For proof, look no further than the CBOE Volatility Index, or VIX, which tracks traders' expectations for future volatility based on S&P 500 options. This time, however, investors could experience a more prolonged and intensified stretch of downside volatility - one that may extend losses incurred during the market's worst week since March. This story is available exclusively to Business InsiderĪnd start reading now. Account icon An icon in the shape of a person's head and shoulders. ![]()
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