As the week came to a close VXST which measures 9-day volatility expectations took a dive. Hence the big drop on the left side of the VXST – VIX – VXV – VXMT diagram below.
TYVIX finished the week below 4.00 which was a first for 2017, but not outside of the long term historical range. I checked the market expectations for the next FOMC meeting in late July and right now we have a 100% chance of nothing happening. That much certainty probably justifies[...]