Cheap Convexity

Cheap Convexity

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Cheap Convexity
Cheap Convexity
The Tricky Duality for Risk Assets, Growth vs. Implieds

The Tricky Duality for Risk Assets, Growth vs. Implieds

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Jon Turek
Oct 05, 2021
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Cheap Convexity
Cheap Convexity
The Tricky Duality for Risk Assets, Growth vs. Implieds
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The backdrop for risk assets has clearly changed over the past few weeks. One of the more striking dualities that seems to be weighing on markets is the nexus between growth downgrades and more hawkish central banks globally all happening at the same time.

Central banks have turned more hawkish, and that was very evident during the CB madness of Septemb…

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