Dean Curnutt: Donald Trump Is the Ultimate Black Swan

The video discusses the impact of Trump's policies on market volatility and correlation, particularly focusing on the VIX and potential Black Swan events. It highlights the low correlation environment in the S&P sectors and the underpricing of risk by investors. The discussion extends to global investment flows into US markets and the reactions of American CEOs to Trump's presidency, noting a surge in consumer and small business confidence.

How have Trump's policies affected the VIX and market correlation?

• Decreased the VIX and market correlation

• Decreased the VIX but increased market correlation

• Increased the VIX and market correlation

• Increased the VIX but decreased market correlation

What is the main argument against Trump being a 'Black Swan' event?

• He has caused significant market volatility

• He has not been involved in any news conferences

• His impact on the market is predictable

• His policies are completely unforeseen

What has been the recent trend in the S&P's realized volatility?

• It has been very low, around 5%

• It has remained stable at around 10%

• It has been increasing significantly

• It has been fluctuating unpredictably

What has contributed to the low volatility across US assets?

• Increased US deficit control

• Decreased investment from Europe and Japan

• Quantitative easing in Europe and Japan

• High interest rates in the US

How are American CEOs adapting to Trump's policies?

• By ignoring his policies

• By boosting consumer confidence

• By adapting in real time

• By reducing business investments