Report
Investors’ average level of risk aversion rises after serious crises: What consequences?
Serious crises, and this will definitely be the case for the COVID crisis, give rise to an increase in the average level of risk aversion in financial markets. Consequently: Risk premia (equities, corporate bonds) are higher; If central banks want to avoid the same development for government bonds, they have to increase their bond purchases; Economic agents increase their cash holdings; There is a search for safe-haven assets: after the subprime crisis, the dollar; currently gold and bitcoin.
Provider
Natixis
Based across the world’s leading financial centers, Natixis CIB Research offers an integrated view of the markets. The team provides support to inform Natixis clients’ investment and hedging decisions across all asset classes.
Patrick Artus
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