With last year’s stock market volatility continuing into the first week of 2019, it is clear that investors are to an extent, the volatility seen at the end of 2018 was driven by concerns around the potential for an earnings recession in 2019.
With last year’s stock market volatility continuing into the first week of 2019, it is clear that investors are anxious. This anxiety is not without merit: indeed, economic data over the last two weeks seem to suggest a material slowdown in growth.
The food fight between the President and the Fed Chair could result in too much easing, and the expansion of valuations beyond sustainable levels. The other food fight: leveraged loan issuers vs buyers. Issuers are winning this fight hands down due.
Trade policy is of first-order importance in a more connected world, and markets have been reacting nervously to U.S. trade disputes.
Trade was the hot topic of 2018, with the U.S. administration engaging in negotiations with many major trading partners.
A brief note on the latest price action in equity markets, how business cycles end, and how markets are being left to fend for themselves without central bank intervention for the first time in 20 years.
2011 estimates and the thinking behind the numbers. Executive summary
Michael discusses how short covering, rather than real money, has driven the fastest recovery on record following a bear market, and looks ahead at slowing earnings growth.
Expected returns and correlations of asset classes.
In this paper, we assess the potential risks associated with such a strategy by stressing capital requirements using spread-implied ratings.