Week 31: Fed Holds, Microsoft Surges, Markets Recover
A volatile week of central bank signals, hawkish bond moves and swinging tech earnings resolved in a positive weekly close and three of four portfolios beat the S&P 500. →
Week 25: Volatility Normalises
A week of falling volatility and flattening term structures rewarded systematic positioning — but tactical gamma trades faced headwinds.
Weekly Summary
This week marked a stark contrast to the previous fortnight's spike in volatility. After last week's sharp selloff in equities and the VIX surge to 21.51, markets found their footing early in the week. The S&P 500 recovered modestly, whilst the Nasdaq's rebound proved more decisive. More telling than raw index performance was the shift in the volatility regime: the VIX compressed from 21.51 to 17.68 over five trading days — a 15% decline that reflects a genuine risk-off reversal rather than a mere positioning unwind.
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