“It's the gradual, slight, imperceptible change in your own behavior and perception that is the product... (when) there's nothing else on the table”— Jaron Lanier
Darn, Lanier really nailed it. An incredibly meticulous and thoughtful person. And yes, he's wealthier than most people in finance.
Negative rates gamma/convexity
Negative gamma and rates convexity has been quite pronounced in the rates market over the past 24-48 hours. Did th...