Insights

2021 Flagship (Index/RA) Commentary – Q4

Read our Q4 Flagship (Index/RA) Commentary for a review of strategy performance and positioning during the quarter. 2021 Q4 and Full Year Flagship (Index/RA) Commentary

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Too Much of a Good Thing?

After 2021’s strong equity market return, investors may want to pump the brakes. The 28.71% return of the S&P 500® Index for 2021 is the tenth-highest annual …

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December 2021 Market Recap

The S&P 500® Index returned 11.03% in the fourth quarter, bringing its year-to-date return to 28.71%. The quarter was strong, but uneven, with monthly returns of 7.01%, -0.69% …

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What Is Convexity Tail Hedging?

As discussed in our November Market Perspective, an increased frequency of low multi-year annualized returns and large drawdowns has reduced the effectiveness of long-term fixed income …

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Has the Federal Reserve Taper Already Impacted Volatility Markets?

The term structure of S&P 500® Index option implied volatility (IV) changed dramatically at the end of November. The new COVID variant and surprisingly hawkish rhetoric …

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