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The equities rebound towards the end of January, from the initial swoon, was reversed last week, and at this point, a new low is all but certain.
There are a number of things troubling equities. Geopolitics are a fickle catalyst for anything, but it has certainly added to the misery in the past few weeks.
The two most obvious trends are rising volatility and flattening yield curves, the latter driven by a sharp repricing on the front-end.