Axioma Insight™ Quarterly Risk Review
At the outset, and for most of the second quarter, it appeared risk was re-entering a relatively benign period. Many components of risk (market, country, currency, style) had fallen in aggregate (of course, not all individual countries, currencies or styles followed suit). But two relatively unexpected events served to shatter the calm – a sudden spike in oil prices, which seemed to have the biggest impact on Canada but was felt elsewhere as well, and, of course, the vote by citizens of the UK to leave the European Union.
Author: Olivier d’Assier, Managing Director, APAC