Two peculiar things happened in America this week. One of these made headlines:
Donald Trump sacked James Comey as head of the Federal Bureau of Investigation, just as the agency intensified investigations into the president’s dealings with Russia. It has plunged Washington into a political drama which, at best, could create months of distraction and, at worst, spark a Nixon-style crisis.
The second peculiar event, however, was less noticed: the so-called Vix index of volatility for American stocks sank below 10, to the lowest level seen since 1993, before slightly rebounding.
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