Equity Update: The Return of Volatility
Oh what a difference a month makes! February has ushered in the return of volatility to a market that had all but forgotten what it felt like. Since the start of the month, we have seen the Volatility Index (the “VIX”) spike from its January (and all of 2017) average of the low teens all the way to 50, now presently sitting at 29. In addition, over the last month the 10 Year Treasury Yield has moved from 2.55% to 2.83%. The S&P has declined 8.8%. All this action and we are only 7 trading days into the month! So what is going on?