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August 2022 Monthly
We can hope that August will be quiet. The Federal Reserve, the European Central Bank, and the Bank of Japan do not meet until September. With a snap Italian election on September 25, an Italian political storm may wait for vacationers to return. The volatility of the S&P 500, the VIX, is at three-month lows, and the equivalent measure in the Treasury market (MOVE) has come off sharply from the peak in early July that was above the 2020 extreme. Investors and businesses continue to wrestle with rising prices on one hand and moderating economies on the other. At the same time, the powerful heat wave affecting much of ... (full story)