Stock Markets Today: VIX index fades, Sunak in spotlight, Italy blocks deal
The Cboe Volatility Index, also known as the "fear gauge," closed at its lowest level since February 2020 amid calm in stock markets that are trading around record levels. Wall Street was boosted by Federal Reserve Chairman Jerome Powell’s assurance that the central bank can reinvigorate the economy without spurring harmful inflation. The VIX, a measure of expected price swings, ended the day below the key level of 20 for a seventh straight session. That said, one options trader has placed a wager that the index will rise toward 40 in July, amid questions around the pace of the recovery and the impact of a looming tax hike.
The conduct of U.K. Chancellor of the Exchequer Rishi Sunak is in focus after it emerged he "pushed" officials to consider helping Greensill Capital following a request from former Prime Minister David Cameron, a lobbyist for the since-collapsed firm. “I have pushed the team to explore an alternative with the Bank that might work,” Sunak said in a text message, referring to the Bank of England, which administered the government’s Covid Corporate …
More on: www.bloomberg.com