Remember when markets were so zen last week? Not anymore.
The market’s so-called fear gauge, the CBOE volatility index (VIX), jumped 9% to 16.98 early Tuesday. While a reading below 20 is still seen as indicating low volatility, it’s a noticeable uptick from the four-month lows of 14 reached last week.
Russia’s updated nuclear doctrine, lowering the threshold for a nuclear response is behind Tuesday’s move but the VIX has been rising since the middle of last week as the Trump rally has faded and uncertainty over inflation and the Federal Reserve’s rate-path has risen.
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