Friday Sell-Off Bigger For Quants Bigger Disaster Than BrexitRupert Hargreaves
Last Friday’s bond driven sell-off was a bigger event for quant flows than Brexit according to Bank of America.
Since Brexit, financial markets around the world have enjoyed a period of extended stability. Even though markets were rocked following the June 24 vote, central bank rhetoric in the weeks following calmed nerves, sent bond yields plunging and pushed investors into equities in the hunt for yield. Through Thursday September 8, the S&P 500 recorded its longest stretch in history of trading within a range of 1.77%. The data goes back to 1928. However, on Friday . . .
This content is exclusively for paying members. Sign up here
If you are subscribed and having an account error please clear cache and cookies if that does not work email email@example.com or click chat