As we monitor continual updates about COVID-19, our response is designed with two priorities in mind: the safety and health of our associates, clients and partners; and our mission to be trusted stewards of client capital.

The following content provides our views on market conditions and business policy due to the turmoil created by the coronavirus. The situation remains fluid and we will continue to update this page with additional information as it becomes available.

Tremendous financial market volatility continues. Last week (March 16-20), we also saw historically wide spreads in credit markets and liquidity dried up even in the market for government bonds. The highly unusual fixed income environment exacerbated equity volatility since fixed...
Given the historic volatility in bond markets, Diamond Hill will be hosting a webinar/conference call this Thursday (March 26) at 4:00 PM ET. In addition to fielding live questions, our Fixed Income Portfolio Managers, Mark Jackson and Henry Song, will cover ...

Fixed Income CIO Bill Zox and PM John McClain share their thoughts on recent activity in the high yield markets, the government’s response to market volatility and impacts of the ongoing oil price war.

Presentation Slides

(disclosure)

The views expressed are those of Diamond Hill as of March 2020 and are subject to change. These opinions are not intended to be a forecast of future events, a guarantee of results, or investment advice.

A lot has happened since Friday morning, including the Fed cutting the fed funds rate an additional 100 basis points (bps) to near zero, announcing a quantitative easing program and coordinating with other central banks to provide dollar liquidity globally....
Amid steep equity and credit market volatility, oil fell sharply on Monday, March 9, adding to broad market uncertainty. COVID-19 dampened energy demand and contributed to lower prices before the Monday correction, but making sense of the current energy market...
Market Update Q&A Replay
Insights
March 12, 2020
CIO Austin Hawley, CFA, and Portfolio Manager Chris Welch, CFA address recent market volatility, share how our investment team has responded and answer questions.
As the COVID-19 virus continues spreading globally and within the US, uncertainty about the economic impact is roiling markets. Add to that Saudi Arabia’s opening salvo in an oil price war with Russia that sent crude prices to $32, and...
March 2020 Oil Update
Podcasts
March 10, 2020

Energy Analyst Blake Haxton, CFA, and Portfolio Manager John McClain, CFA, discuss how Saudi Arabia and Russia sent oil prices tumbling after Friday’s OPEC meeting and what this means for equity and high yield markets already reeling from COVID-19.

(disclosure)

The views expressed are those of Diamond Hill as of March 2020 and are subject to change. These opinions are not intended to be a forecast of future events, a guarantee of results, or investment advice.

As of December 31, 2020 Diamond Hill owned Diamondback Energy, Inc. (debt).

Fixed Income CIO Bill Zox, CFA, breaks down the Fed’s reaction to market volatility caused by COVID-19 and discusses how our fixed income team is positioned to take advantage of ongoing volatility in the market.

(disclosure)

The views expressed are those of Diamond Hill as of March 2020 and are subject to change. These opinions are not intended to be a forecast of future events, a guarantee of results, or investment advice.

The ICE BofA U.S. High Yield Index tracks the performance of the U.S. dollar denominated below investment grade corporate debt publicly issued in the U.S. domestic market. The index data referenced herein is the property of ICE Data Indices, LLC, its affiliates (“ICE Data”) and/or its third party suppliers and has been licensed for use by Diamond Hill Capital Management, Inc. ICE Data and its third party suppliers accept no liability in connection with its use. See diamond-hill.com for a full copy of the disclaimer.

The S&P 500 Index is a market capitalization-weighted index focused on the large-cap segment of the market. The index is comprised of 500 of the top companies in leading industries in the U.S. economy.

These indices do not incur fees and expenses (which would lower the return) and are not available for direct investment.

February 2020 Equity Market Update
Podcasts
February 27, 2020

CIO Austin Hawley, CFA, discusses how market volatility caused by COVID-19 is impacting our equity portfolios and the benefits of short-term volatility.

(disclosure)

The views expressed are those of Diamond Hill as of February 2020 and are subject to change. These opinions are not intended to be a forecast of future events, a guarantee of results, or investment advice.

As of January 31, 2020 Diamond Hill owned Booking Holdings, Inc. (equity) and United Airlines Holdings, Inc. (equity). As of November 30, 2019 Diamond Hill owned United Airlines Holdings, Inc. (debt).

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