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,...