The unrelenting selloff in China’s $9 trillion onshore bond market last year caused deep angst among investors. That performance is far from enticing as the country aims to further open up this market, the world’s third largest, through initiatives such as the Bond Connect programme. For now, foreign investors account for less than 2 percent of the onshore market, though ...

What drives volatility? In equities these days, it turns out, not much. With just 6.8 percent realized volatility in the S&P 500 Index, 2017 marked the least volatile year since 1964. Low correlation among stocks, muted inflation variability and market-friendly central bank policies all played a role. But that hasn’t stopped investors from asking, ‘Who ate the vol?’ We point ...

Citigroup Inc. investors are rightly looking past the ugly headline. The bank on Tuesday reported a large fourth-quarter loss, reflecting a bigger-than-expected $22 billion writeoff related to changes in US corporate tax laws and a move to a territorial tax regime. Importantly, the one-time charge shouldn’t compromise Chief Executive Officer Mike Corbat’s ability to deliver on targets due by 2020, ...