VIX Surges Higher as S&P 500 Jumps In Pre-CPI and FOMC Risk Distortion

Anxiety is rippling through the markets in advance of the heavy event risk ahead. While the FOMC rate decision may be the peak event – particularly for the US – the last release of US CPI proved a serious event itself. The anticipation is so extreme that both the VIX and S&P 500 rallied in tandem the most in over 25 years.