Market structure, systemic risk and synchronicity

Market Structure, Systemic Risk and Synchronicity

An introduction to the themes behind LB Research.

Financial markets rarely break at the point where people are looking. Stress tends to surface where structure weakens – liquidity thins, correlations tighten, or the architecture of the market begins to shift beneath the surface.

At LB Research, my focus is on these early signals.
Not forecasts.
Not noise.
But structure.

This means three things:

1. Market structure

How assets actually trade, depth, flow, liquidity, execution, ETF dynamics, and the plumbing that holds everything together. Markets can appear calm while the structure is under strain.

2. Systemic risk

Not the textbook version.
The subtle kind that emerges when large parts of the market begin responding to the same information, the same shocks, or the same liquidity conditions.

3. Synchronicity

When assets, sectors or factors start moving as one.
This is often a sign of reduced transparency, herding, or latent fragility. My work builds on the foundations of Morck (2000) and Jin & Myers (2006), extending synchronicity into a more practical, market-facing framework.

Together, these elements form the backbone of my research.
The aim is simple: spot the cracks before they become headlines.

This Insights page brings deeper versions of the charts and frameworks I share on LinkedIn – expanded notes on correlation dynamics, volatility structure, liquidity behaviour and systemic stress.

More will be added over the coming weeks as LB Research takes shape.