Market Observations

July 27, 2020 | 3 min
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Where Key Market Stress Metrics are Headed Halfway Through 2020

We covered in our last blog post how the v-shaped recovery appeared nearly complete through the first half of 2020. Despite a staggering 34%...
July 22, 2020 | 3 min
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What the Mega-Cap, Growth-Led Recovery Means for Markets

Investor optimism appears to be on the rise as economies have begun reopening around the world. Both fiscal and monetary stimulus have boosted valuations,...
April 27, 2020 | 3 min
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Underlying Market Stress Realized in 1Q20

We started the year publishing a paper welcoming 2020, and tail risk we’ve seen before. We mentioned that the combination of low relative return...
April 15, 2020 | 5 min
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When Low Beta Isn’t Low

This blog is the second of a two-part series examining the anomalous dislocation of equity betas we observed in the drawdown during March 2020....
April 13, 2020 | 6 min
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When Equity Beta Correlations Collapse

This blog is the first of a two-part series examining the anomalous dislocation of equity betas we observed in the drawdown during March 2020....