Market Perspective

A Correlation Conundrum

Not Since the 1990s - Recently, as interest rates have climbed significantly and at a rapid pace, correlation between U.S. long-term government bonds and...
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Don’t Get Caught with Your Shorts Down

Shorting vs Selling Volatility – What’s The Difference?So far in 2023 there has been an abundance of headlines driving persistent uncertainty. Risks abound in light
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Protection For Less

Higher Rates Lower Protection CostsInterest rates resumed their climb in August, after a reprieve in July, shifting the yield curve higher. For perspective, the 2-Year
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A New Environment Supports a Strong First Half

Despite overwhelming expectations of doom and gloom at the beginning of 2023, the equity market had an excellent first half of the year (and continued
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For the Times, They Have Changed

Uncertainty persists around the path of the U.S. economy despite the expected summer lull. With the Federal Reserve (the Fed) pausing rate hikes at their
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Cuts Can Hurt

There has been much handwringing about the U.S. Federal Reserve’s (the Fed) persistent efforts to tame inflation and tighten monetary policy by increasing interest rates.
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Lower, not Low: An Examination of Recent Volatility Trends

Apart from the spike associated with the Silicon Valley Bank led banking crisis in March 2023, volatility, as measured by the Cboe® Volatility Index (the
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Steady Turbulence

Investors are facing many challenges and a new investment landscape. Equity valuations are lower, but not cheap, and volatility levels have shifted higher. On the
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Real Return Conundrum: Between Rocky Volatility & An Inflationary Hard Place

A combination of higher interest rates and signs of slowing growth are putting pressure on valuations. Even with February’s market pullback, the price-to-earnings (P/E) ratio
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Is it 1963 or 2002?

As traders and professional prognosticators hang on every word from Federal Reserve officials, anticipate each data release with tense fingers hovering over keyboards and debate
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