Aggressively Unchanged

Back to zero: A market reversion completed

After weeks of extremes, many key market indicators are now quietly slipping back to neutral territory. Risk appetite, fund flows, correlations between assets, and even macro volatility measures are all reverting rapidly toward zero — signaling a major cooling off from previous extremes. From discretionary investor positioning to bond-equity correlations, the landscape has shifted fast. In this environment, the market seems to be pressing "reset" rather than charging ahead. Let's look more closely at this broad normalization.