<div id="readability-page-1" class="page"><div><div><p><strong>Trump’s “Escalate to De-Escalate 101” whip-saws the Markets yet again,</strong> and over the past week and a half, top Nomura strategist, Charlie McElligott notes that <strong>this has led to a biblical Vol re-rating lower, with the Spot Equities rally which most everyone was de-risked out of now turning relentless</strong>, as “buyers are higher”...</p><p><em>...an eye-water repricing in US Equities Volatility, with the extreme Spot rally paired with / a function of the UX1 and “Vol of Vol” crush…</em></p><h2>When to Re-Short...</h2></div></div></div>

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<p>Nomura's strategist Charlie McElligott discusses the recent market volatility, noting a significant decrease in volatility ratings following Trump's market strategies. The US equities have seen a relentless rally, prompting a reevaluation of short positions. McElligott highlights the extreme repricing in US equities volatility and suggests conditions for re-shorting the market as buyers continue to push prices higher.</p>

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After 'Biblical Vol Reset', Nomura Lays Out The Conditions To Re-Short This Market