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