WEEKLY WRAP-UP (s2023 e20)

For the week ending Nov 24/23: the 'tourist examines the post-COVID low in the cost of protecting a stock market portfolio

On Friday, the VIX closed at 12.46. This was a new post-COVID low. What’s interesting is that a month ago, amid hyperbolic worries that the US government wouldn’t be able to fund itself and that the term premium was about to skyrocket, the VIX was over 22. Now, a little more than four weeks later, it’s given up almost 10 handles and most of those concer…