VIX Sags to January 2020 Levels (Complacency!)
The index has collapsed for five straight weeks
Highlights
Deflating rents and sliding energy prices to exert a huge drag on the CPI (buy bonds!)
Loss of pricing power poses a headwind to profit growth forecasts for 2024
Markets remain complacent despite lingering hurdles
Weak industrial profits data out of China prompts profit-taking in Asian equities
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