Macro Volatility Digest

Implied volatilities were mixed last week as oil prices continued to climb and the Fed came out more hawkish than expected. Brent oil prices briefly jumped to over $126/bbl – their highest level since the Iran conflict started – while oil volatility (OVX Index) remained elevated in the 88th percentile high. In contrast, the VIX® Index ended the week near a 3-month low of 16.9% as the SPX Index hit an all-time high on the back of better-than-expected earnings. Learn more in this week’s Macro Volatility Digest.