Excerpt from the Financial Times quoting DataTrek’s Nick Colas:
…. “The problem seems to be that investors seem unusually uncertain of the path forward. Nick Colas of DataTrek Research highlighted how the Vix volatility index didn’t go higher than 33 points on Thursday — below even March’s peak — despite the S&P 500 suffering its 15th worst day of the past decade.
“Markets can’t seem to decide if they want the Band Aid of easy monetary policy ripped off quickly or only peeled off slowly. While markets may stabilise soon — the last two post-Fed meeting periods have seen rallies — today’s action tells us investors should proceed with extreme caution”….
Full article here on the Financial Times.