Stocks won't remain calm for long

Ideally, the holidays should be calm. Thankfully the market is obliging. Equity market volatility, as measured by the VIX Index, recently dipped below 12, close to multiyear lows. We’ve seen this pattern repeatedly over the past 10 years and it rarely ends well. The BlackRock blog We’ve been here before, most recently last summer. In late August I described the unusually low level of volatility. By early September the VIX Index had spiked roughly 70% compared to the August low. It repeated t...