After years of low volatility and steady gains in stocks, the global financial markets erupted in late summer with a surge in volatility and plunge in stocks. This was followed by a rally to near new highs. Yet, that was followed by yet another decline resulting in a virtually unchanged condition for US equities for 2015. All the while global equity markets are mostly locked in bear market territory.
A very different story is playing out in the fixed income market, which appears to be bracing for the much anticipated rate rise from the US Fed. As the Fed begins its much anticipated series of rate increases other central banks, notably the ECB and Japan, are actively deploying their version of extreme monetary ease. Within the fixed income world sectors are headed in diverging directions led by concerns over the high yield market with increasing defaults trending upward while large sums of debt are set to be rolled over the coming years.
By all accounts the Great Divergence appears to be unfolding before investors’ eyes. Such divergences suggest that the complexity that is the global economy and financial markets is on full display with the implications and outcomes most unknown.
On January 7, 2016 NYSSA will bring together experts on the economy, markets, and other key areas to discuss and debate these and other important matters impacting investments. Register to attend this important event.
Glenn Reynolds, CFA, CEO, CreditSights, Inc.
Marc Chandler, Global Head Currency Strategy, Brown Brothers Harriman
Mark R. Freeman, CFA, Chief Investment Officer, Westwood Holdings Group, Inc.
Chair & Moderator
Vincent Catalano, President and Global Investment Strategist, Blue Marble Research
| Tweet #NYSSAMF16
Thursday, January 7, 2016
11:30 a.m.–12:15 p.m.
12:15– 1:45 p.m
NYSSA Conference Center NYSSA, 1540 Broadway, Suite 1010 (45th Street Entrance)
($10 surcharge for walk-ins)
Policies and Procedures