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The VIX index, also known as the fear gauge, has fallen to its lowest level in seven years. Even if equity markets are not as efficient as we might once have believed, the fall in expectations of volatility suggests that the global economy is hitting a sweet spot. In our previous commentary we have taken a slightly more negative outlook, broadly expecting weak and volatile growth to continue. Has the world economy really improved without us noticing it ?
Source : Grosvenor
