How Long Will Markets Stay Calm?

Call it the calm after the storm: Markets are now more placid than they’ve been in years. Volatility across a range of assets is now at the lowest level since 2007. The Chicago Board Options Exchange Market Volatility Index, or VIX (also known as the fear index), which tracks the expected price of buying protection against declines in the S&P 500, is now down almost 70 percent from early August, when it peaked at 48. It hasn’t closed above 15 since March 12.

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