Latest Observations from Volatility Markets

Volatility across all assets remains below long-term historical averages

Equity options prices jumped and are now more expensive than interest rate options vs history. Despite this jump in equity options prices, volatility across all assets remains below long-term historical averages (i.e. below 1.0 on this chart). For investors that see upcoming macro catalysts as impactful, options prices still look unusually attractive across assets.