ong term channel with shares outsta=ding around an all time high. Chart three is fro= "Global Equity Volatility Insights <http://rsch.baml.com=r?q=ctKMaUu0ebACucDgScyGRQ&e=amanda.ens%40baml.com&h=L4iNOg> " from June 28 and=suggests risk parity fund leverage is high and we do not think the relatio=ships have changed sig