Fresh restrictions across the country have overtaken vaccine optimism. On the political front, a divided Congress seems disinterested in delivering an aid package even as restrictions mount across the country.
NEW YORK: For a brief moment earlier this week, it looked like the volatility that’s gripped equity markets virtually all year was ready to recede. Four tumultuous days later, anxiety remains elevated, and traders are betting it’s going to stay that way.
Futures rose overnight into Monday after the presidential election was called for Joe Biden without much chaos at the polls. Then Pfizer Inc.’s vaccine trial data sparked a rally, sending the Cboe Volatility Index tumbling toward 20 -- a level it last fell below in February.
Late Thursday, the VIX was headed back toward 30. VIX futures are elevated, with the January contract the most expensive.
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