At first, August looked like it would continue this bear market rally, but the trend kicked back in. Led by bonds dropping, the world started pricing in a stronger fed stance. Stocks turned over, and the dollar strengthened. Stock volatility (i.e., VIX) rose but in a more orderly way, making it challenging for some long volatility […]
Category: Managed Futures
13
Sep
2022
12
Aug
2022
Mutual Fund Performance: July 2022
July provided a relief rally for the still-correlated stocks and bonds much to the chagrin of doomsday prophets. Volatility fell most every day of the month providing a good test for long volatility strategies. Commodity markets were mixed in performance and choppy, lacking a coherent theme (Natural Gas the notable exception). This proves difficult for […]
05
Aug
2022
A Standpoint Story
Cool video from the team at Standpoint animating their equity curve versus global equities for the past 30 months, see below. It’s a little disconcerting to see the past 30 months of our lives, some of the oddest and stressful months a lot of us have ever seen, distilled down into a scant two minutes […]
02
Aug
2022
Asset Class Scoreboard: July 2022
There it was…the old dead cat bounce as investors suddenly decided maybe things are so bad the Fed will not just stop raising rates, but eventually cut rates – and started buying hand over fist in reaction. And what a bounce it was for US Stocks and Real estate, which both threatened double-digit single-month returns […]
19
Jul
2022
June Mutual Fund Performance
The theme for June is “non-correlated does not mean negatively correlated.” We’ve written about this before. While equities continued their bear tread and bonds seemed to hit a temporary low, volatility never really picked up. The real story seemed to be in commodities. Agriculture, metals, and energy all reversed course as the world began to digest […]
05
Jul
2022
Asset Class Scoreboard: June 2022
It’s a bird, it’s a plane… no, it’s managed futures, clocking in with gains once again this year as other assets get hammered down. It won’t always be like this… it hasn’t been like this for a while. But it’s here now. What’s more, managed futures did it this month without the commodity headwind, relying […]
06
Jun
2022
Asset Class Scoreboard: May 2022
Wait a second… Managed Futures can go down? Stocks and Bonds can go up? May showed us it is never quite that easy for asset classes to continue printing positive month after positive month (or negative after negative month) into infinity. Trends do end. Reversals do happen. Value buyers come in. Profit takers take profits. […]
10
May
2022
Asset Class Scoreboard: April 2022
Look who’s on TOP !! It’s been a while…so we’ll thank you for the courtesy of a small victory lap. And boy, is this time different. Managed futures typically does well in market crisis periods when all risk assets correlate, sending markets like energies, grains, and metals lower alongside stocks, all with a nice kicker […]
12
Apr
2022
Managed Futures is Rocking… What Happens Next?
There are some eye-popping March returns for managed futures programs hitting our inboxes this month, whether Auspice’s +8%, EMC’s +9%, or Quest’s +13% (you can learn more about each of those managers in our recently published trend following whitepaper here.) This broad success across many managed futures and trend following programs has pushed SocGen’s CTA Index […]
06
Apr
2022
MF Mutual Fund Performance – March
Beware the ides of March. This past month showed madness in more than one way. Markets began to internalize the ramifications of the ongoing tragedy in Ukraine amidst the backdrop of inflation in the west. Despite much uncertainty, market volatility generally declined for the later 2/3rd of the month. Equity prices rallied hard. Commodities, which […]
