EP Monthly - Dec 2021
Actualizado: 10 mar
Entering December, EyePerformance’s main Global Risk Indicator remained in positive territory, signaling investors to stay invested in risky assets in the short term to the extent their risk appetite allows.
The business cycle cluster receded from maximum levels at the end of October led by the credit risk cluster (low levels of remuneration in the High-Grade/High-Yield space) and corporate earnings (not in absolute terms, but rather losing strength in terms of revenue growth relative to the previous quarter1); at the same time, the market cluster stopped its steady recovery from 2021’s lowest levels at the end of November, coinciding with the sharp equity market correction and hike in volatility levels.
Markets where there is a relative upward signal switch are USA Equities, EMMA Equities, High Yield, and EMMA Fixed Income. Those with a relative downward signal switch are Asian ex-Japan Equities and TIPS....