Rise in Middle of VIX Curve Shows Traders See a Long Bear Market
This article is for subscribers only.
The breakneck speed of the equity rout is its most terrifying feature. Now, volatility markets show that fears are shifting to how long the frenzied trading will last.
The VIX futures curve now resembles conditions that prevailed during the worst of the 2008 and 2011 market downturns, periods of persistently elevated swings in the S&P 500 Index.