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$1.5B Korea Development Bank 3Pt Launched

US TSY FUTURES

5s30s Yield Curve Precipitous Decline

FED

Powell Re-Appointment Probability Slipping

MENA

EU's Borrell: Time Is Not On Iran's Side

RISK, ROMANIA
RISK: In terms of risk appetite, the CBOE's volatility index or VIX was last
12.40, on the low side of a 12.06 to 14.05 range.
- On Friday, the VIX vaulted twin peaks of 16.30, from May 18, and 16.28, from
April 17, with the latter run-up driven also by North Korea concerns.
- Friday's VIX high of 17.28 was the highest since Nov. 9, the day after the US
election, when the VIX peaked at 21.48. The 2017 high was 23.01, seen Nov. 4
ahead of the election.
- Monday's decisive close back below the 200-day moving average, currently
11.99, was another sign that risk appetite was improving.
- The July 26 low of 8.84 was a new life-time intraday VIX low (prior life-time
intraday low was 8.89, seen Dec. 27, 1993).
- As a reminder, sub-20 VIX levels are deemed risk friendly, 20 to sub 40 risk
neutral, and 40 and over risk averse.