Where have you gone, Vol-a-tility?

Mid-week market update: I have been writing in these pages about the remarkable muted equity market volatility. Indeed, Luke Kawa observed on Monday that realized volatility had fallen to historical lows.

Recent developments indicate that volatility may be about to return to the markets. This reminds me of the lyrics of a song that I vaguely remember from my youth:

Where have you gone, Vol-a-tility?
A nation turns its eyes to you...
Woo woo woo...

The full post can be found here.