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February 2023 Volatility Briefing
Implied volatility, as measured by the Cboe® Volatility Index (the VIX®), averaged 20.06 in February. Consistent with its typical relationship, average implied volatility exceeded realized …
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 …
February 2023 Market Recap
The S&P 500® Index returned -2.44% in February, bringing its year-to-date return to 3.69%. Investor euphoria in January, driven by persistently high inflation that appeared …
After the Bear: A Brief History of Market Recoveries
Long-term equity returns after years like 2022 are attractive but volatile: Five-year periods after bear market drawdowns produced double-digit annualized returns in six out of …
January 2023 Volatility Briefing
Implied volatility, as measured by the Cboe® Volatility Index (the VIX®), averaged 20.17 in January. Consistent with its typical relationship, average implied volatility exceeded realized …
