Tag: Warrington

  • Warrington August 2021 Market Update

    | | Markets

    Commentary provided by Mark Adams of Warrington Asset Management The S&P 500 Index (“S&P”) continued its relentless advance throughout August in the face of ongoing global crosscurrents.  The exponential spread of the Delta variant of Covid, the resurgence of Taliban control in Afghanistan, and the underreported troubles of China’s largest real estate developer (Evergrande), all provided a “wall of worry” for U.S. stock indices to climb.  As with all recent market-impacting events, the only material decline was a mid-month drop which was quickly bought, returning the S&P to new all-time highs.  While the index paints a picture that “all is well”, … Read more Warrington August 2021 Market Update
  • Warrington July 2021 Market Update

    | | Markets

    Commentary provided by Mark Adams of Warrington Asset Management The net return of the S&P 500 Index (“S&P”) for July once again masked a series of domestic and global undercurrents that had the potential to negatively impact the world economy. In the end, none of those contributors had the ability to derail the ongoing rally in U.S. equities, other than to cause a few percentage points of temporary discomfort.  The biggest decline (approximately 4%) occurred in the middle of the month as fears of the spread of the Delta variant of the coronavirus stoked concern that lockdowns and other mitigation … Read more Warrington July 2021 Market Update
  • February & March Intra-Month Performance Updates

    | | Flash Report

    What is up? Indexes across the board are showing position returns for February. This heightened volatility has given way to many strategies particularly Systematic Managers with a 1.03% number posted for February. The overall IASG CTA Index is up 0.70% and focuses in on managers with at least 36 months of history. What is down? The IASG Option Index has only a few reported numbers so although showing positive as of today – we anticipate this number to be negative as more managers report. A few managers did perform during February that trade option strategies. Global Sigma BondVol strategy posted a … Read more February & March Intra-Month Performance Updates
  • Warrington – The return of Volatility

    | | Yield Curve

    Volatility returned to the S&P in August. While multiple sources were responsible, the most obvious catalyst was the escalation of the trade war with China.  Just one day after the Federal Reserve indicated that U.S. monetary policy would be responsive to further trade war skirmishes, President Trump provided justification for further policy easing when he tweeted to invoke additional Chinese tariffs.  Later in the month the Chinese retaliated, and Trump responded with more tariffs.  The net result of these actions, which also caused a huge rally in bond markets, was a dramatic increase in market volatility.  The S&P rallied or declined by 1% or more on eleven separate days in August, the most in one month since February 2018, and the index had three separate days with declines over 2.5%, the most in nearly eight years … Read more Warrington – The return of Volatility