New: A daily newsletter defining what matters in business and markets

Stories

Stock volatility at lowest level since 1993

The VIX, an index of stock market volatility, yesterday closed at its lowest level in more than 23 years. The 9.77 mark is less than half the index's historical average, and comes at a time of record-high public equity prices ― suggesting that market bears are in very deep hibernation.

More stories loading.