Markets are eerily calm. Stock volatility is low, and the Vix fear gauge has plunged to pre-pandemic levels. But is this the quiet before the storm?

With the US debt ceiling now resolved, some fear that replenishing the Treasury’s coffers could rattle the serenity of markets. Others fret about heightened macroeconomic uncertainty. So are markets too complacent?

And in today’s Dumb Question of the Week: How do minimum volatility funds work? And do they work?

Selected links

Certainly Uncertain - AQR Capital Management

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Questions géostratégiques avec Bruno Tertrais