How can we clean such filth? Hadi says after Asyraf Wajdi's mock offer to 'purify' Umno and DAP in unity govtWall Street’s most closely-watched measure of investor nervousness, the Cboe Volatility Index, yesterday hit its highest in nearly seven months, as the S&P 500 slid for the week. — Reuters picNEW YORK, Oct 21 ― Growing volatility in US stocks is driving a search for defensive assets, though investors may have fewer places to hide this time around.
That has left investors piling into other traditional safe-haven assets such as the dollar and gold, as well as short-term debt. Volatility in stocks has been accompanied by increased gyrations in the Treasury market. The MOVE index, which measures expected volatility in US Treasuries, stands near a four-month high.
The index's defensive sectors have been battered this year, with utilities down about 18 per cent, consumer staples off nearly 9 per cent and healthcare down roughly 6 per cent, partly because higher yields on Treasuries have dulled their allure. In currencies, the Swiss franc, a longstanding safe haven asset, stands near its highest level against the euro since 2015. The dollar is up 5 per cent in the last three months.