NEW YORK - Investors hoping for calm to return to U.S. stocks will not find much comfort in Wall Street’s fear gauge known as the VIX, which shows some market participants are bracing for more turbulence despite this week’s bounce.
The persistent elevation of the index, which shot to its highest level since 2008 as markets plunged, sounded a discordant note during the rally earlier this week, which took the S&P 500 nearly 18% higher from Monday’s close to Thursday’s close. While unprecedented stimulus from the Federal Reserve and the relief bill have bolstered hopes of averting worst-case economic scenarios, forecasts remain bleak. Goldman Sachs, for instance, has projected a 24% year-over-year drop in U.S. gross domestic product in the second quarter as the outbreak halts business activity throughout much of the country.
It may take months for the VIX to ease back to its usual levels, said Matt Amberson, principal at ORATS.- a measure of actual moves on the index over the past 30 days - was at 97.4% on Friday, according to data from options analytics provider Trade Alert. By comparison, the VIX does not seem so high.
:-).
Speculating in this market when Trump can't even consider making a rational decision or telling the truth is a fools errand. Better to just wait it out.
Does it though?
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