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Equity market projects calm. Rates don’t. Which is right?

Rates and equity markets project two very different outlooks. Our chart looks at the expectations gap.

Equity market returns: What got us here won’t get us there

What will returns from a diversified portfolio of stocks look like going forward?

Equity market to remain rate dependent in 2024?

This week’s chart finds the bulk of the S&P’s returns last year came on days when rates fell. So far, 2024 has followed a similar pattern.

Equity markets and the global reflation trade

What reflation is, how it has historically been manifested, and what it means for today’s equity markets.

Equity markets have been telling the wrong story

Falling yields, a perfect storm of policy uncertainty and the looming economic slowdown mean investors should prepare for higher volatility.

Equity performance increasingly rate-dependent

This week’s chart looks at duration risk within the equity market and why style agnosticism may be more important than ever in such an environment.

Equity volatility bounced in February, yet remains below average

VIX averaged a historic low in 2017 and remains relatively constrained

Even a small rate rise highlights bonds’ weakness

Traditional bonds have seen three months of negative returns. Our chart offers a cautionary outlook on bond returns in today’s rate environment.

Eye on CMBS delinquencies: CRE debt market health check

Real estate lending remains conservative and the CMBS delinquency rate recently hit a post-crisis low.
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