NEWSROOM

  • Research

    CTAs add diversification to your portfolio

    Risk assets continued to climb higher in June, despite mounting risks posed by Covid-19 infections in Southern and Western U.S. states such as Florida, Texas, California and Arizona.

  • Research

    A new atypical distressed cycle has started

    U.S. distressed bonds account for about 15% of high yield aggregate indices. Energy remains the largest sector, representing about a third of all U.S. distressed bonds, followed by industrial at 28%.

  • Research

    Milder factor rotations are easing pressure on L/S neutral

    In a previous post, we had analyzed the underwhelming performance of neutral strategies until early Q2. Extreme stock volatility, heavy systematic trading volumes, the dominance of speculative drivers (the pandemic, multiple stimulus, the oil price war) and their delayed showing in macro and corporate statistics all contributed to impair fundamental stock-picking approaches.

  • Research

    Wide M&A spreads not arbitraged away by cautious managers

    M&A volumes have vanished in recent months, but the dealflow appears to be rising from the ashes in June.M&A transactions in the U.S. fell almost to record lows in April and May, with monthly volumes in the range of USD 20 to 30bn per month according to Refinitiv.

  • Research

    ETF Money Monitor - May 2020

    April’s market recovery continued through May, with Fixed Income recording strong inflows, writes Lyxor’s Head of ETF Research and Solutions Vincent Denoiseux.

  • Research

    Special Situations strategy on the back foot in the wake of Coid-19 market crash

    The Special Situations strategy has been on a roller coaster since February. Due to their long structural market beta, managers tend to underperform in risk-off episodes.