Markets

Here comes the recession

David Llewellyn-Smith
Wednesday 30 April 2025
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The Market Ear on diving US leading indicators.  

Post crisis lows

VIX at the lowest levels since the early April panic. Note the aggressive VVIX implosion, as well as the latest little bid in VVIX. Volatility is not dirt cheap, but early long volatility positions/hedges are starting to screen attractive again. Our full volatility note from earlier today here.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.