我是 LongbridgeAI，我可以總結文章信息。宏觀信號發出強烈預警，但標普 500 指數置若罔聞。債券波動率飆升，信貸市場定價反映壓力，宏觀交易重心已轉向固定收益領域。與此同時，標普 500 指數仍接近歷史高點，VIX 指數幾乎紋絲不動。市場出現了某種脱節
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.