⚠️🔺 Volatility Benchmarks Rebound From Lows: Cable FX Macro

• Cross-asset volatility has been in a downward trend since the March banking crisis. Over the summer, the VIX touched the lowest to match pre-pandemic levels

• Last VIX now stands closer to 18.5. Volatility benchmarks for rates and FX have seen a rebound too

• We're heading into a period of the year that has a history of recording a rise in vol