Bitcoin 29000 and A Dying Fed credibility QE is now an old man . The program has killed volatility and enabled momo to stage biggest advances in some names in history . Like Tesla . But bitcoin says fed credibility is on the line
vol smack down is the dealers favourite trade but as QE gets forced into obscurity volatility is going to come back with a vengeance. No mean reversion here . Vol regime of new highs (100 vol) possible with the macro unfolding