Wealthion · Thursday, September 10, 2026
Michael Green argues that the current bond market is not being driven by traditional rational decision-making but rather by algorithmic patterns. He likens the current situation to the 'Cassanza market' of 2016, where market participants acted in ways counter to conventional logic.
“It makes no sense in bond language, but that is the algorithm under which they are programmed and the markets are now playing that out.”
“Equity investors will remember this time as roughly around 2016 where we began to refer to the Cassanza market, the market that did the opposite of what you thought it should.”
“But the important thing about it is that it's this is not being driven by rational actors, this is sort of algorithmic patterns that are happening that have kind of skewed markets.”