COMMENTARY

The correction that never happened

GLOBAL equity markets have gone without a 5 per cent drawdown for more than a year and they haven't suffered a 10 per cent correction since the start of 2016. The stock market has powered through several surprise events - Brexit, President Donald Trump's election and North Korea's...

Complacency, but not where you expect it

A RECURRING theme among some market observers is how complacent equity investors are today. A statistic often used as evidence is the US S&P 500 market-implied volatility, or VIX, index. When this is low, it usually signals that investors are sanguine about the outlook for stocks. Therefore,...

The year of the pivot

FOR the global economy and markets, the start of 2017 couldn't have been more different from a year ago. Business confidence as well as growth and inflation expectations are once again on the rise in the United States and other major economies. Donald Trump's election in the US appears to...