Quant traders at Man Group Plc are betting that unlocking the secrets of private markets will give them an edge in trading public stocks.

With inflation up, economic growth down and two-year Treasury yields testing 5%, Bill Gross sensed the music in markets was fading, and said it was time to get over the likes of the Magnificent Seven.

Investors have just turned back the clock on the Fed’s tightening campaign and cast aside the Fed fears that ruled them for 15 months.