Conflicting perspectives raise eyebrows

Speculative positioning in VIX futures shows investors expect volatility to remain low, which implies an absence of growth or inflation shocks
The flattening of the US yield curve shows investors expect slower growth
These conflicting views may reflect differences in investment horizon but in the end, only one of the two can get it right, which is a source of concern

BNP Paribas Team BNP Paribas

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BNP Paribas Team

BNP Paribas

BNP Paribas Economic Research Department is a worldwide function, part of Corporate and Investment Banking, at the service of both the Bank and its customers.

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