A review of one of our favorite risk guages this morning confirms a continued “risk off” warning that has been present in global markets since late March. At the same time with yesterday’s election news that Greece hopes to stay in the Euro a while longer, the Volatility Index (VIX) has dropped more than 11% today. Does the Greek election make further QE from the US Fed more or less likely this week? US dollar strength seems to suggest less, the VIX seems to be expecting policy action from somewhere. Which Central Bank will blink next?
Source: Cory Venable, CMT, Venable Park Investment Counsel Inc.
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