Strategist Who Warned on VIX Says Forget About Buying the Dip
- SocGen’s Kaloyan sees S&P 500 at 2,500 points by year-end
- Says rising bond yields will choke U.S. equity bull market
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Back in November, he warned about the risks of overcrowded short positions on volatility. Now he says don’t even think about buying the dip in U.S. stocks.
Societe Generale SA’s Roland Kaloyan sees rising bond yields choking the U.S. bull market, betting that the S&P 500 will end the year at 2,500 points, some 13 percent lower than the benchmark’s record high hit in January.