The Cboe Volatility Index, or VIX—also known as Wall Street's fear gauge—has fallen to a fresh pandemic-era low.
The VIX dropped to 15.59 on Thursday morning, beating a recent low of 15.65 on June 11.
The index, which is based on volatility expectations drawn from options on the S&P 500, tends to fall when stocks are grinding gently higher—and it tends to jump when stocks plummet. It hit an all-time record of 82.69 on March 16 last year when the Covid-19 panic was at its worst.
It is now at its lowest levels since February last year when it got as low as 13.7.
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