Insights

Returns on risky assets take the lead in March

Several benchmark equity indices reached record-high levels in late March as increases in government bond yields began to flatten.

Equity index at all-time high – but has since been pressured by rising interest rates

The benchmark equity index hit an all-time high in mid-February but then fell towards end-February due to rising interest rates.

Volatility shock triggered switch from risk-on to risk-off in January

Several benchmark equity indices hit new all-time highs in the first half of January.

Risk appetite maintained in December

Towards end-2020 risk appetite still dominated financial markets.