It’s a bear market II

Friday, 16 September 2022

The Market Ear with more nasty charts.

BIG stress remains stressed

Both bond and FX volatility indexes are down from “panic” highs, but remain at elevated levels. Equity stress has risen as we crashed earlier this week, but the gap between VIX and JPM FX vol index is very wide (chart 2).

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.