One good week certainly doesn’t make a summer and while we’ve hardly seen the sunshine in Sydney this year at least equity markets rallied last week but the VIX is not yet convinced that all is again ok towards risk assets i.e. its trading in the middle of the last 12-months range. If we are correct and stocks are set to recover over the coming months the VIX should drift back towards the 20 region where we will be looking to take a long position in our Global Macro ETF Portfolio.
MM likes the VIX in the 20 region
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