The first quarter of 2020 came in roaring like a lion and went out like a (slaughtered) lamb.
After stock indices were pushing new records in the first half of the quarter, the bloodbath in equities that followed not only ended the longest-running bull market in the US history, but also threw indices worldwide into a bear market. Volatility skyrocketed with major benchmarks seeing their risk increase two- to six-fold, with all components of risk contributing to the climb.
Authors
Melissa R. Brown, CFA
Managing Director, Applied Research
Christoph V. Schon. CFA, CIPM
Executive Director, Applied Research
Diana R. Baechle, PhD
Director, Applied Research
Natan Borshansky
Manager, Applied Research
Olivier d'Assier
Executive Director, Applied Research APAC