Are Maniacal Markets In The Middle of a Seismic Shift?

The maniacal markets of late – down 333 points on the Dow Jones Industrial Average in late morning trading — have seen wide swings, testing liquidity levels with downside deviation significantly more a factor in risk management formulas.[1] While many analysts are sanguine, pointing to sentiment readings that say a blow off market top is not yet in the cards, however. But is there a more nuanced and potentially seismic shift taking place as rates rise. [klarman] While forward-looking earnings and economic benefits from Trump tax cuts appear to be financial gasoline… There are several sides to this odd market…