VIXterminated - Fear Collapses By Most In 31 Months

There is nothing to fear but freed itself... With VXX - the VIX ETF - at record lows, the VIX term structure has swung from backwardated last week to extremely steep with VIX hitting an 11 handle this morning. This is the biggest weekly drop in fear since January 2013...

 

VIX has collapsed from last week...

 

By the most in 31 months...