currency, the two sides of a coin

Making ‘cents’ of currency uncertainty

Market Ethos.
12 September 2022.

In normal times (if you can remember those), asset class volatility was a declining range from the most volatile equities to bonds to the least volatile currencies. We are not saying this relationship has changed, but with bond and currency volatility historically high of late, the range has certainly narrowed. Given the inflationary environment and response from central banks, the elevated bond market volatility is understandable. Even the risk-free rate, which is normally stable, has become unstable and uncertain. But today we are talking currencies.

Related articles

Market Ethos

Hidden risk in risk-free

August 25, 2025. Market Ethos. This week, we take a look at the current state for the U.S. as a rising future risk. We aren't…

1 minute read

Market Ethos

Inflation risks are adding up

August 18, 2025. Market Ethos. Reducing rates, adding more fiscal stimulus in the Big Beautiful Bill, and the impact of tariffs — inflation risks are…

1 minute read

Market Ethos

Earnings surprise again

August 11, 2025. Market Ethos. This has been a good earnings season for both America and Canada, which has helped moved markets higher. Corporations delivered…

1 minute read