There is a funny GEICO commercial that says Moms call at the worst times as the guy is fighting his way through a Mission Impossible like scenario. The commercial ends with It’s What They Do. I was recently reminded of this commercial the other day when I heard volatility in the markets is near all time lows. The markets are supposed to go up and down it’s what they do.
It is fair to say that volatility in the stock market is in rare territory these days, particularly at the lower end of historical norms. The VIX has never logged a close below 9 but is currently down near the lowest levels in history.