Looking Beyond the Correction - Reading Into the VIX
We analyze the link between S&P 500 valuations and the VIX, arguing that the P/E expansion of the past two to three years can be attributed to lower market volatility, while the recent selloff is a product of the short VIX trade unwinding. As for Russia, last week's sharp decline looks to be more due to a temporary contagion effect than a similar shift in valuations vis-a-vis volatility, and we consider the market's bullish story to be intact.
Sberbank CIB Investment Research is a research firm offering equity, fixed income, economics, and strategy research. It covers analysis on all aspects of Russia’s capital markets, issues and industries. The firm analyzes trends in Russia and combines local knowledge with a global perspective. It processes macroeconomic data, market and company-specific news, stock quotes and other information for providing research reports. The firm provides details and latest prices on the most traded names and most traded paper on all segments Russian market. In strategy research, it provides thematic research, tips and descriptions of the methodology used to evaluate companies.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.