THERE'S plenty of volatility, but what happened to the volume? From stocks to currencies and bonds, the upswing in turbulence to start the year is chasing all but the bravest traders from financial markets. Despite the recent rebound in US equities, volume in the S&P 500 Index is down 23 per cent.
Speculative bets on the direction of currencies have also dropped to the lowest in two years, while average daily trading among dealers in US Treasuries is close to a seven-year low.
Worries about the outlook for the United States, Europe and China, as well as mixed policy signals from central bankers around the world, have all contributed to what UBS Group AG chief executive officer Sergio Ermotti called...
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