China's slowdown and emerging consensus for global recession
What are markets saying?
The good times are over! The days of extremely low volatility, with the VIX trading at 12 or 13 are now over. We may see an up day or a down day, but the volatility is now higher than it was before - perhaps permanently.
Why is that? I would say it's because the emerging consensus gaining a foothold in asset markets is that we are…