12pm update - moderately weak

Equities remain moderately lower, with the sp' having seen a somewhat significant swing from sp'2028 to 2004. Despite the declines, VIX is only +1%.. and is certainly not warning of any real trouble. Gold continues to build gains, +$20. Oil remains exceptionally weak, -3.7%


sp'60min

VIX'daily3

Summary

So... red indexes... but the VIX is really not suggestive of any real concern.

Right now.. the only concern would be if Draghi disappoints on Thursday. To me.. that is almost unthinkable... not least after the SNB.
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VIX update from Mr T.


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time for tea.. .back at 2pm