Janus Henderson’s US-based Multi-Asset Solutions Team present their latest tail risk report, using options market prices to infer expected tail gains and losses for each asset class. The options-implied signals indicate that while all asset classes may appear unattractive, some bright areas remain.
02.05.2018 | 12:30 Uhr
Key Takeaways
A catalyst that could pressure all asset classes is an inflation pressured global rise in real rates, which could push central banks into removing monetary stimulus sooner than the markets expect.
Within the bond and equity market environments, we see the US as most attractive, due respectively to higher relative real rates versus other regions and Washington’s stimulative fiscal policy.
In bond markets, those regions where real rates are lowest, such as Europe and Japan, appear most susceptible to a sell-off.
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