我是 LongbridgeAI，我可以总结文章信息。宏观信号发出强烈预警，但标普 500 指数置若罔闻。债券波动率飙升，信贷市场定价反映压力，宏观交易重心已转向固定收益领域。与此同时，标普 500 指数仍接近历史高点，VIX 指数几乎纹丝不动。市场出现了某种脱节
The macro is screaming. The S&P isn't listening
Bond volatility has exploded, credit is pricing stress and macro trading has migrated into fixed income. Meanwhile, SPX sits near record highs and VIX barely moves.
Something has disconnected.