SINGAPORE (Feb 19): The market is consistently proving that everybody can be wrong. Global equities got hammered badly in the first few trading days of February, wiping out 2018’s entire year-to-date gain amid soaring volatility and the resulting panic selling. Just a few weeks ago, the market was euphoric as macroeconomic data continued to improve globally, underscoring a strong -global cyclical upswing. The biggest risk does not come from fundamentals; it comes from within — complacency and overlooked volatility.

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