In October, the most notable development was a sharp rise in bond yields, reversing much of the decline seen in Q3. This resulted in a challenging month for bonds, which weighed on valuations across most asset classes—though gold was a notable exception. Much of this shift was attributed to what
After a volatile start, markets grew bullish in September as the long awaited first cut by the Federal Reserve came, and China delivered the surprise monetary and fiscal policy announcement that many had lost hope it would ever come. Sentiment is now strong, but gold and defensive equities once again
Since the Global Financial Crisis, value has suffered one of its longest drawdowns against other style factors, most notably growth. Calls for the death of value have been growing. So, let’s explore the arguments against value, seeking answers to why it has underperformed and whether these outcries have been premature.