Forward Note - 2025/04/06
The 20th century is remembered for its rough autumns—1929, 1987. So far, the 21st century has served up its own share of market mayhem in spring. Setting aside the
Forward Note - 2025/03/30
Everything started off well following last week’s quarterly expiries. Even the Fed’s downward revision of U.S. GDP growth—underscoring the policy risks posed by the Trump administration,
Forward Note - 2025/03/23
After a month of uninterrupted beating, the main US indices managed to close the week—just barely—in the green. The S&P 500 added a little over 0.
Forward Note - 2025/03/16
Another week of heightened volatility, with the SP500 and Nasdaq closing down roughly 2.5%. It could have been much worse, as we flirted with bear market territory on Thursday
Forward Note - 2025/03/09
What an intense week! The writing was already on the wall on Monday when the market erased all the gains from what could easily be attributed to February’s end-of-month
Forward Note - 2025/03/02
Another Friday, another round of fireworks. Despite the SP500 closing the week down by a solid percentage point and the Nasdaq shedding 3.5%, we witnessed one of those end-of-month
Forward Note - 2025/02/23
A shorter week and, overall, a quieter one—until patatra. A sudden 1.75% slide in the SP500, over 2% in the Nasdaq, and a sharp expansion in implied volatility,
Forward Note - 2024/02/16
There we go! We've hit an all-time high again. After a month of sharp downside gaps driven by unsettling geopolitical news and shifting AI narratives, the market seems
Forward Note - 2025/02/09
Two big Monday gaps down in a row—definitely not on our bingo card. Neither was the speedy recovery each time, steadily pushing us back toward all-time highs as the