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News & Research
Most Recent News & Research
Momentum begets momentum, until it doesn’t; European risk’s recent decline drops it to near a 10-year low.
China among the worst performers and riskiest markets; US small caps much riskier than large caps; Large stocks with momentum preferred in developed markets.
US and European markets diverge despite similar signals from Central Banks; Asset diversification skyrockets in Europe; Pound strengthens against the greenback.
Focus on US Small Cap: Small caps beat large in February, with Health Care driving the difference; Small cap style factor returns larger in magnitude and bigger than expected; Small cap correlations increased, driving risk higher; the opposite happened in large cap.
China Risk Climbing Higher Still; China Affecting EM Risk; US Risk Spreads Widen.
US market volatility keeps falling despite market gyrations; US Small Cap’s specific risk soars, led by SMCI; In a sharp reversal, predicted risk climbs in the UK.
Most factors are “behaving”, but not equally across regions; Trading volume reaches a 12-month high in the US, driven by Info Tech; Where is the Momentum?
Risk Falling Off a Cliff (not in CHINA!); Small is Good Again (except in the USA & Japan); Breadth Still Narrow – beware.
The past week saw a complete reversal of the first week of 2024, with the US and other Developed markets up sharply. Within Developed Markets, the Medium-Term Momentum factor was particularly strong. Simultaneously, the Size factor, which had an exceptionally positive 2023 may have begun to reverse (Japan excepted, once again).
US market down with Small Caps falling lower; Most US sectors declined with Info Tech taking the lead; Yen plunges following powerful earthquake.
This week’s edition of the Axioma Equity Risk Monitor covers the major trends in 2023 with links to many of our blog posts; for more details, please register for our Axioma Insight 2023 Risk Review webinar, taking place on 10 January.
US Energy emerges as one of the biggest losers and riskiest sector; Global trading activity picks up; Currency risk remains steady as global risk climbs