U.S. VIX equity volatility is up nearly 10%
U.S. VIX equity volatility is up nearly 10% to clear 11.0 and extended its pre-open run-up to 1.5-month highs of 11.24 from 10.16 on Friday. As mentioned earlier, the perverse move higher in the VIX despite record opening levels in the S&P 500 implied that the "fear gauge" was reading things a little differently this morning. Stocks have since topped out and pulled back from highs. Curiously there have now been two false missile warnings, with Japan following hot on the heels of the Hawaii alert over the weekend. Perhaps all the fake news and uncertainty is causing a little investor indigestion now? Other risk proxies like gold is up only slightly from lows of $1,332, while USD-JPY is mid-range near 110.77. Late comer Bitcoin meanwhile remains under pressure near $12.1k, still down 11%, but above earlier lows after S. Korea threatened to ban crypto trading.