By This Measure, Thursday Was A ‘Black Monday’

This week was so chock-full of notable statistics and stuff that sounds really scary that it’s proving difficult to catalogue it all.

But one quick thing we thought you should note is the spike in the EEM “VIX” that we saw on Thursday.

Needless to say, emerging markets didn’t have a great week. Indeed, four consecutive weeks of gains came to a rather unceremonious end amid “fire and fury” as the MSCI’s developing-nation stock gauge had its worst week of the year.

For more on this, see “As ‘Nuclear’ Story Count Goes Nuclear, One Trader Says Look Out Below In EM.”

Have a look at what VXEEM did on Thursday:

VEEM

Obviously, what you see below isn’t the best way to conceptualize what you see in that chart, but be that as it may, we couldn’t help but notice that that looks like the biggest move since the “Black Monday” that followed from China’s August, 2015 yuan devaluation:

VEEMImpl

But you know what they say: “it’s probably nothing.”

Advertisements

Speak On It