Beware pricing market risk when benchmarks aren’t behaving

With so much geopolitical uncertainty, it’s been easy to feel defensive, which brings to mind an old saying that “bears sound smart, but bulls make the money”. The challenge is knowing when being defensive is warranted, and when it risks missing the bigger picture.

Pricing risk in investment markets is never easy, but this year it has felt particularly challenging. Higher-risk assets have proven relatively resilient, while traditionally defensive assets have offered less protection than investors might expect.

Source: https://www.afr.com/markets/equity-markets/beware-pricing-market-risk-when-benchmarks-aren-t-behaving-20260517-p5zxsw