Enjoy it while it lasts, 'cause it never does

The canary in the calm water...

Lou Mannheim and experienced seafarers know, calm waters never last forever. It has been the best of times from a volatility perspective over the past few months cross-assets and especially so in FX and equities. Astute readers of TME know that we now are leaning to being long equity volatility. Let's have a look at some "best of times" charts and the canaries showing that it might be coming to an end.