It’s still touch and go with risk warnings according to stock market volatility, but the threat pulled back from extreme levels yesterday. The VIX (a measure of the implied volatility of S&P 500), for instance, dipped below 20 for the first time since October 9. A day or two of slightly lower vol after the recent surge in risk could easily turn out to be noise and so it’s not yet obvious that the roller coaster ride is over. But for the moment, the decline inspires a bit of optimism that the market may be headed for calmer waters.
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● China’s growth slowest since global crisis, annual target at risk | Reuters
China grew at its slowest pace since the global financial crisis in the September quarter and risks missing its official target for the first time in 15 years, adding to concerns the world’s second-largest economy is becoming a drag on global growth.
● Analysts: VIX Back In Risk Friendly Waters; S&P nears 1,900 | MNI
The CBOE’s volatility index or VIX moved back into sub 20, risk-friendly waters Monday, with market players eager to see if the move will be sustained.
● Income Growth: The Taxman Cometh | Wells Fargo
Roughly five years into the recovery, income growth has been notoriously slow to pick up. Between 2009 and 2013, before-tax income grew a mere 1.5 percent. After taxes, income shrank 7.2 percent
● WTI Climbs Amid Estimates of U.S. Gasoline-Supply Drop | Bloomberg
West Texas Intermediate rose for the third time in four days amid speculation motor-fuel inventories shrank in the U.S., the world’s biggest oil consumer. Brent advanced in London.
● EU to mediate in gas dispute between Ukraine and Russia | Deutsche Welle
The European Union is set to host gas talks between Russia and Ukraine aimed at securing a payment deal and avoiding disrupting gas supplies this winter.