People are willing to sell leveraged risk at much larger than normal discounts!
BGU is represented by the gray bars...so far today it has been drifting relatively far beneath the SPY cash price and the parity prices that would reflect a balanced market. When people will sell a leveraged instrument at a discount the market is valuing the "risk-off" trade.
This situation is currently on the extreme side...and I would look for some sort of bounce back closer to parity soon.
Real Estate Newsletter Articles this Week: New Home Sales Increase to
693,000 Annual Rate in March
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At the Calculated Risk Real Estate Newsletter this week:
• New Home Sales Increase to 693,000 Annual Rate in March
• Lawler: Observations on the Recent Sur...
6 hours ago