It is a commonplace to say that the rate of change in the world today is faster than it has ever been. From Artificial Intelligence to cryptocurrencies, from social media to Virtual Reality, technology is radically changing our world. But we think the biggest change of the 21st century has barely begun.
Since the start of 2018, volatility and risk have returned to markets. After a very quiet 2017, this should not surprise us; indeed the bigger question is not why markets are more volatile than last year, but why, given the political and economic backdrop, they are not more nervous still.