Wellington Management
August 26, 2024
Tracing our history to 1928, Wellington Management is one of the largest independent investment management firms in the world. We serve as a trusted adviser for institutions in more than 60 countries.

Massive market sell-off: Justified or an overreaction?

The broad market sell-off is still evolving, but it’s a good moment to review the catalysts, the technicals at play, the fundamental picture, and what, if anything, allocators could consider doing. As of this writing, over the past three days, the Nikkei was down 20%, the yen was up 4.5%, the S&P 500 was down 4%, high-yield spreads were wider by around 50 bps, and the US 5-year Treasury yield was down around 35 bps. Bottom line: I think markets have overreacted relative to the fundamental backdrop.

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