Bulls gallop into oil sinkhole


Don’t say I didn’t warn you. The Market Ear has more on the sinking heard. 

Stressy VIX

Gradually, then suddenly. On Tuesday, in our post “Green Shoots of Fear”, we pointed out that some of the “indicators” we watch were showing a pick up in fear. Fast forward to today and things are looking much more stressy suddenly. The VIX exploded higher, trading at levels last seen in mid Feb. Last time VIX was here, SPX traded some 200 points lower (and no you don’t compare trending to mean reverting assets, but still). Chart shows SPX vs VIX inv.

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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.