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Michael A. Gayed, CFA

Michael A. Gayed, CFA

24 Dec 2024 β€” 1 min read
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By Michael A. Gayed, CFA 24 Jul 2026
ACM 10-year term premium, 1990 to June 2026, showing repricing from negative to +0.51%

The Duration Ambush

Why long rates may not follow the Fed lower this time. Term-premium repricing, bill-heavy issuance, and volatile foreign demand β€” the exposures the consensus is quietly mispricing.

By Michael A. Gayed, CFA 23 Jul 2026
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By Michael A. Gayed, CFA 23 Jul 2026
The Short-Vol Edge: How Simplify's SVOL Harvests the Market's Most Persistent Premium

The Short-Vol Edge: How Simplify's SVOL Harvests the Market's Most Persistent Premium

Today’s Lead-Lag Report post is sponsored by TappAlpha Income while staying fully invested in equities. TappAlpha S&P 500 Growth & Daily Income ETF (TSPY). TappAlpha Innovation 100 Growth & Daily Income ETF (TDAQ). Investors have always had to choose: generate income or stay fully invested. TSPY

By Michael A. Gayed, CFA 23 Jul 2026

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