Mar. 2017 || Newsletter
The trends observed in February were clearly entrenched, with global equity prices moving higher, bond yields declining and the dollar recovering some of its early year losses against other majors.
Equity markets continue to be driven by an improving economic environment, higher inflation expectations and anticipations of supportive policies by the Trump administration. Despite concerns about the timing and implementation of these new US policies and rising political risks in Europe, the levels of volatility have remained close to record lows. This is reflected by the reading of the CBOE Volatility Index which is currently about 25 percent below its five-year average.
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