Momo Massacre? Nasdaq Is Crashing As Major Factor Reversal Strikes

While the catalyst for this sudden move is unclear, the fact is a notable regime shift is underway today in factors as the long-momo-short-value trade is reversing fast as Treasury yields tumble.

Is this the start of a September-like reversal?

Notably the almost incessant rise in low-vol strategies is getting hammered today…

As all the insane high-flyers are getting hammered…

And that is weighing down the overall market…

And Nasdaq is collapsing…

With 30Y Yields back at their lowest since Sept 2019…

A notable break in the correlation between rates and momentum…

And Gold continues to surge…

Is reality finally setting in?