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    Fears gone? not really, judging by VIX levels

    The markets are showing some relief today following days of heightened stress due to the probability of Brexit implied from polls and odds moving higher, to more less 40%.

     The relief is also backed by higher than expected new credit in China. But in general, it is the vision of Fed confirming its not-that-hawkish approach today that is the most likely cause of the recent trends being reversed today.

    That said the, if we look at the VIX index measuring the nervousness of the markets (VOLX on the xStation platform) then the fears have not abated much

    link do file download link

     source: Bloomberg.

    The Brexit polls have also not shifted towards the status quo so we need to stay prepared for some more of defensive, risk-off  play on the global markets. GBP so far up -.18% vs USD today



    Any person acting on this information does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it.

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