Volatility ETFs Spike as Economic Concerns Fuel Market Fear July 8, 2021
The CBOE Volatility Index hit its highest level in over two weeks Thursday, as equity markets reeled and investors turned risk off in face of growing concerns over the market’s economic outlook.
On Thursday, the
“What you’re seeing now is risk aversion as uncertainty and fear starts to take over,” Christopher Harvey, head of equity strategy at Wells Fargo Securities, told the Wall Street Journal. “You have less liquidity because of the holiday weekend, you have a pre-earnings period where basically everything is quiet, and everyone turns to the macro [landscape], which isn’t great. And there is no indication that the slide in bond yields is going to abate in the short term.”
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