GOAL Kickstart_ Performance dissection and safe assets in the correction

更多资料加入知识星球：水木调研纪要 关注公众号：水木Alpha 24 March 2025 | 10:24PM GMT We continue to recommend balance in portfolios (OW equities and bonds, N commodities and cash, UW credit) and focus on diversification across and within assets. Given the recent increase in implied volatility, in particular for equities, we highlighted selective cross-asset option overlays based on relative value: put spreads on oil are an attractive hedge against lower global growth given the relative lower volatility (Exhibit 4). Selling risk-rev ...