No Reason To Panic

  • But panic there was, with the VIX rising from the dead all the way to 35.
  • A reassuring sign is that bonds, which arguably started the market mayhem, functioned as the traditional safe haven.
  • Earnings growth is still solid, some air has to escape from stretched valuations.
  • It’s unlikely, but not impossible this turns into a self-feeding process, especially if accompanied by a political crisis.

Source: No Reason To Panic | Seeking Alpha