HONG KONG -- One of the hottest topics being discussed in global stock markets these days is volatility -- or rather, the lack of it. The most widely quoted benchmark, the Chicago Board Options Exchange's volatility index, better known as the VIX, has fallen below a reading of 10 during the past few weeks, approaching its lowest point since its inception in 1993.
The big question is why the index, which is considered to be a gauge of fear in the stock market, has been so low, particularly during a time of uncertainty, including the geopolitical risk posed by North Korea and the unpredictability of U.S. policy under President Donald Trump.
