Very low volatility can also mean longer term opportunities

Today's slide deck: https://bit.ly/3p54XZy   - Today we look at the low energy wind-down to the action in May as the US is out on a holiday, while noting that very low volatility is providing an attractive opportunity for hedging risk as we are entering a very critical time frame in coming months on the inflation question and to what degree it is transitory and whether the market is too complacent on the Fed's potential to shift if it isn't. A rundown of key commodities and equity theme baskets and the big move in the CNY and more on the call. On today's pod were Peter Garnry on equities, Ole Hansen on commodities and John J. Hardy hosting and on FX. Intro and outro music by AShamaluevMusic