stress tests Technology vs. Energy Three years ago the information technology sector was priced at a 50% discount to energy (see graph below). Since then, the discount has collapsed and the ratio of IT over
stress tests "Safe" havens An article on Bloomberg called our attention recently. The authors quote a research from Goldman Sachs contending that traditional safe havens (Gold, bonds, Yen) might not be appropriate diversifiers in
stress tests Rate risk in the utilities sector Last week the FT published an article titled: Rising interest rates punish US power sector. It is well known that utilities tend to underperform when interest rates are expected to
stress tests Transitive risk: Measure the impact of a rate rise in your portfolio The Fed is starting its massive balance sheet unwind. Given the current economic recovery and inflationary pressures, higher yields need to be paid on those treasuries in order to entice
