One of the biggest narratives behind why the stock market just went haywire is wrong

This week's sell-off has been linked with and blamed on interest rates, with investors said to have become concerned about higher US inflation. Strategists at Pavilion Global Markets and elsewhere say this dominant narrative is incorrect. As equity volatility spiked, rates markets stayed stable. Risk-parity funds, which invest in a combination of stocks and bonds based on factors including volatility, may have contributed to the sell-off as stock market fear increased, Pavilion...