Bank Chaos Tests Traders’ Nerves and Rewards Those Doing Nothing
- Stocks holding up well after the collapse of several lenders
- Sticking to bonds amid extreme Treasury turmoil reaps profits
The New York Stock Exchange in New York, on March 20.
Photographer: Michael Nagle/BloombergThis article is for subscribers only.
The plot twists in markets have lately been riveting. The urge to react has been intense. Doing so has mostly been a mistake.
It’s still early, and things can get fluid when financial stress is afoot. But amid warnings of a banking crisis, a credit-fomented recession, pivoting central banks and stagflation, the best strategy so far — particularly in stocks — has been to sit still.