The week when we saw major central banks adjust monetary policy and update the economic outlook saw volatility gauges rise
However, equity volatility remains relatively subdued vs rate and FX indexes. The VIX is now closer to 30.0, this is still within Wednesday's range
The dollar benchmark index rises to record highs, while equities extend losses closer to YTD lows
Despite the risk off trading, we have yet to see the VIX rise.
Some desks have noted traders hedging at the last minute, which is reflected in a relatively lower VIX. Analysts say hedging strategies are not working this year, buying puts to hedge against S&P 500 downside is negative YTD
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