"Almost the entire increase in the gold share of reserves since 2009 is a function of the rising market price of gold itself"
"Every major asset class is in the green so far this year, the first time we've seen that since 2019"
"This year’s flows have been so furious that every month has run at roughly 3.5 times the usual seasonal average"
"Small-caps today are hitting the highest levels since February relative to Large-caps"
"We have CTAs modeled to sell equities in every scenario over the next week and month, mostly concentrated in the US"
"There tend to be two distinct vol regimes: low vol before the market peak and high vol thereafter"
