Silver Rises Over 120% YTD 
Financial markets are unusually calm, with volatility measures for stocks, bonds, and currencies all hitting yearly lows. The VIX “fear gauge” has dropped to its lowest level since December, while Treasury volatility is at early-2022 lows.
This calm seems surprising given ongoing risks: geopolitical tensions, sticky inflation, and Trump’s Fed criticism. But experts cite three key reasons for the low volatility:
– large cash reserves ready to buy any dips
– a stronger-than-expected economy avoiding recession
– and investors betting Trump will back down from extreme threats (his typical pattern)
With the S&P 500 hitting new records and inflation improving, markets now expect 2-3 Fed rate cuts by year-end.
