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Another week on the books, and though the data may not have picked up all the recent banking-related uncertainty, equity ETFs were hovering around a potent milestone over the last week at about $5 trillion in total AUM.
While investors in the banking sector panicked in the past few days, those that held shares of VIX funds like VXX smiled ear-to-ear. The iPath Series B S&P 500 VIX Short-Term Futures ETN is an "anti-fragile holding" that generally does best when the S&P 500 performs poorly.
A lot of research goes on these days assessing how anxious Americans are based on online sentiment, but markets need only look to one of the handy indicators that grade volatility to see that the current moment is a stressful one.
Wall Street took a huge beating last week following the bank stock meltdown, with the major bourses capping off the week with losses.
The Federal Reserve chief Powell indicated yesterday that the U.S. central bank may hike interest rates farther and faster than previously expected in order to tame inflation as the latest economic data points came in stronger than expected.
The historical importance of the current enviornment on the main U.S. indices cannot be underestimated. The best economists, analysts and experts are struggling over the question: has the bear market of the past year ended, or has it just started and we are on the verge of one of the largest market crashes in history?
Volatility strategy may be in order as U.S. default worries rise.
The VXX ETN gives investors exposure to short-term VIX futures. The VXX was popular among day traders due to it's ability to deliver exceptional returns during market drawdowns.
VXX has tremendous tracking error. The fund appears to regularly destroy value through constant rollovers from month to month.
The CBOE Volatility Index and volatility-related exchange traded funds jumped Friday on growing anxiety over the pace of the Federal Reserve's future interest rate hikes. Among the best performing non-leveraged ETFs of Friday, the iPath Series B S&P 500 VIX Short Term Futures ETN (VXX) increased 4.