Remarkable speculative froth in places. Brexit crunch time.

Today's slide deck: https://bit.ly/3qIq3NC   - 

Today we look at the continued solid bid in risk sentiment while noting a few signs of extremely stretched sentiment in equity options and especially in Tesla options. Also a look at the strong demand for disaster insurance in GBP options as Brexit crunch time has truly arrived, while Gilts are also heavily bid.. Surging industrial metals are the highlight in the commodity space, while fixed income traders should be fixated on US treasury auctions through tomorrow's T-bond auction. Today with Althea Spinozzi on fixed income, Ole Hansen on commodities and John J. Hardy hosting and on FX.