Buckle up for 2024; early 14% VIX surge hints at a bumpy ride after historic 2023 highs.
The volatility index, $VIX, surged 14% today, marking its most significant daily jump since October 13th. This unsettling start comes as oil prices soar, the 10-year note yield approaches 4%, and the Dow experiences a 200+ point drop. Interest rate cut futures, indicating market expectations, have slightly retreated, but still project six cuts in 2024. …