All day

AGG is trading at a 60-day vol of 4.4%. Long calls, anyone?

. It’s not tumbling, but it’s on a trend. This implies yield curve steepening. One to keep watching, rather than one to act on right away, I think.

Wrap

Crazy risk on day today. $TSLA up another 10%. Nasdaq up 3.10%. Presumably, this is all on vaccine hopes. But not many people died: so reducing that number won’t make much difference, either, unless of course lockdowns are ended, which will be politically difficult.

Spain tries out a UBI scheme. It’s not 100% clear how it will operate, but it seems to be a genuine large-scale trial. I await the result with interest.

It seems that a mexican takeway restaurant can actually be a tech stock!.