PanAgora's Nick Alonso was quoted in Mathew Dunckley and Josh Dye's article, "Late cycle, sure, but just how late? Investors warn on toppy markets," published by The Sydney Morning Herald.

Nick Alonso, a director with American quantitative investment manager PanAgora, said the market was exhibiting many “late cycle” characteristics such as the inversion in the short and long-term yield curves for US Treasury bonds. But at the same time, there were commentators questioning whether somehow this cycle might be different.