Volatility's Quiet Confidence The bond market has been on high alert since Federal Reserve chair Kevin Warsh's speech at Jackson Hole, with odds of an interest rate hike jumping to nearly 60 percent by September.
Meanwhile, the Cboe Volatility Index (VIX) touched its year to date low.
The VIX, a measure of investor anxiety, is not just calm before the storm – it's a sign that markets are growing more confident in the Fed's ability to manage monetary policy.