Hour after hour, mainstream media proclaims the ‘teflon’ market as clear proof of America’s economic strength as volatility keeps collapsing despite a surge in turmoil.
For years, market anxiety has risen and fallen with a strong correlation to “crisis” in the world. However, as the chart below illustrates, the last 2 months have seen a surge in “crisis” stories lead to soaring stocks and collapsing risk perceptions.