Taking heed of the ‘fear gauge’

Last week’s severe market whipsaw caused the VIX to briefly hit the highest level since the pandemic’s eruption in March 2020. — Bloomberg

NEW YORK: The stock and bond markets are sending different signals about the likelihood of a US recession, leading some major investors to say there is too much complacency in credit.

Last week’s severe market whipsaw caused the VIX, also known as the stock market’s “fear gauge,” to briefly hit the highest level since the pandemic’s eruption in March 2020.