A Primer on Equity Swaps

Download PDF Introduction The aim of this article is to provide a comprehensive overview of equity swaps, focusing on their structure, mechanics and use cases for investors. Equity swaps evolved in the late 1980s and early 1990s, as a part of the broader development of over the counter (OTC) derivative Read more…

2024 Equities Outlook

Download PDF US Equity Performance As we approach the end of the year, the narrative on the US stock market has greatly changed since September/October and especially since the beginning of the year as major macroeconomic uncertainty has now shifted to what the cutting cycle will look like due to Read more…

US equities outlook

Download PDF Introduction on recent market developments After a subdued performance of equities in 2022 (-18.01% dividends adjusted), January has seen a significant turning point for US equities, given the recent strong rally. This article will briefly summarize what happened in markets this last month, outlining the causes of the Read more…

Relative Value Strategies for Equities

Download PDF Introduction Relative Value strategies in equities are all those strategies that seek to minimize their systematic risk exposures while retaining exposure to certain idiosyncratic factors. We decided to analyze those strategies because their non-directional nature can be interesting in the current environment characterized by high geopolitical tensions and Read more…

The Overnight Puzzle

Download PDF Over the last few decades, the overnight and intraday returns of the American market exhibit strange behavior, considering that the highest share of returns accrue in the after-hours trading and not during the day, as most would have expected. Indeed, a good visualization of the phenomenon is shown Read more…