Volatility's Coming for Your Summer Break as Headwinds Build
- Liquidity risk takes center stage amid August’s thin trading
- Managers prepare to do work on vacation if shock materializes
Photographer: Anthony Kwan/Bloomberg
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A yuan slump, a correction in commodity markets, Trump broadsides against the Fed, a trade war, and fresh Italian risk. For Voya Asset Management in New York, they’re headwinds threatening to disrupt the summer break.
“No one is taking a breath,” Barbara Reinhard, head of asset allocation at the $227 billion firm said. “Let’s put it this way, everyone taking a vacation: they can’t be without their devices.”