The CBOE Volatility Index (VIX) pit at the Chicago Board Options Exchange (CBOE) in 2014. Photo: Scott Olson/Getty Images

Betting that Wall Street's calm will last, hedge funds are shorting the Chicago Board Options Exchange (CBOE) Volatility Index (VIX) — or the so-called "fear gauge" — "at rates not seen in at least 15 years,” Bloomberg reports

Why it matters: “[A]ggressive bets against the VIX are, depending on your worldview, evidence of either confidence or complacency," Bloomberg's Sarah Ponczek writes. Aggressive bets against the VIX were shown to be the largest in weekly data going back to 2004.

Context: The VIX rose this week, but remains more than 30% below its 20-year average — meanwhile, volatility has all but vanished and equities are surging to all-time highs. CBOE introduced the VIX in 1993 as a measure of the 30-day implied volatility of 8 S&P 100 options.

Go deeper: 3 questions about the CBOE Volatility Index (VIX), answered

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Obama: The rest of us have to live with the consequences of what Trump's done

Photo: Joe Raedle/Getty Images

Campaigning for Joe Biden at a car rally in Miami on Saturday, Barack Obama railed against President Trump's response to the coronavirus pandemic, saying "the rest of us have to live with the consequences of what he's done."

Driving the news: With less than two weeks before the election, the Biden campaign is drawing on the former president's popularity with Democrats to drive turnout and motivate voters.

Murkowski says she'll vote to confirm Amy Coney Barrett to Supreme Court

Sen. Lisa Murkowski. Photo: Alex Edelman/AFP via Getty Images

Sen. Lisa Murkowski (R-Alaska) said Saturday that she'll vote to confirm Judge Amy Coney Barrett to the Supreme Court on Monday, despite her opposition to the process that's recently transpired.

The big picture: Murkowski's decision leaves Sen. Susan Collins (R-Maine) as the only Republican expected to vote against Barrett.