Market Views

April was a mixed month for hedge fund managers, but continued to provide good diversification to traditional assets.

Global upheaval has created big price dislocations in bonds, making it an interesting time to be a distressed investor; and shipping costs fall even as congestion increases and supply chains creak.

Why investors should look at inflation when trying hedge a recession; and the supply tailwind driving the prices of US single family housing.

Do equities really keep pace with inflation?; higher capex indicates US oil supply may increase; and the correlations ended by rising yields.

Do markets have faith in the Fed?; the risk of another Gamestop; and the gap between job openings and people to fill them grows.

Yields are reasonably priced – because of, not despite, the spike; the death of an old debate; and the dangers of limited liquidity.

Hedge fund managers enjoyed a strong month in March, with gains coming from several strategies.

What do rising interest rates mean for equity markets?; and why we believe higher mortgage rates are not enough to end the US housing boom… for now.

Will the higher oil prices drive the global economy into recession?; and is now a good time to buy emerging-market stocks?

The risk-reward is not yet favourable enough to step in and buy equities in size; and are rate hikes still the best course of action?

Beware the short-lived nature of relief rallies; ominous levels of backwardation in oil markets; and an exceptionally strong year for US housing.

Hedge fund returns were mixed in February, as strategies reacted to the build up of tensions around the Ukraine invasion.