“We Just Saw A Record Unwind Of Levered Hedge Fund Trades”

Yesterday, just before the selling accelerated in earnest, we warned that CTAs and other systematic, trend-following funds had finally joined the selling, as models that track equity trends flipped to a short signal. It wasn’t just the model-driven funds that were dumping however. According to…

Iran’s Elite Guard Urges “Revolutionary Actions” To Halt Rial’s Death Spiral

Iran’s rial continues its death spiral which started in earnest Saturday after being on a steady slide since April, now hitting a historic low this week. Over the weekend the rial took a stunning 12.5% dive, falling from 98,000 IRR/USD on Saturday to 116,000 IRR/USD by…