VIX Won’t Go Below 20 Until There’s a Covid Vaccine, Cantor Says
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U.S. equity volatility won’t likely return to normal levels until there’s a vaccine for Covid-19, according to Cantor Fitzgerald LP.
The Cboe Volatility Index has more than halved since its mid-March closing peak of just below 83 to trade around the 33 level Thursday. That’s still almost 15 points above its lifetime average of 19, and it may not retreat much further anytime soon, strategist Eric Johnston said in a June 18 note.