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Fear returns to stocks

David Llewellyn-Smith
Thursday, 18 January 2024
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SPX and VIX

Bit of chart crime, but note VIX is trading at levels we haven’t closed at since mid November. You don’t compare mean reverting to trending assets over longer time periods, but the chart shows you SPX and VIX have diverged “slightly “in the short term as well, especially post the latest bounce higher in the SPX.

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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.