The VIX climbed 0.9 points to close at 15.1 last week, as the S&P 500 fell 1.4%. This rise is driven by climbing bond yields, with the 30-year Treasury yield reaching 5.33%, its highest level since 2007. Treasury Secretary Bessent announced doubling the bond buyback program to $4 billion. Nvidia options, with earnings due on August 26, imply an expected move of 6.5% to 7% around the event, with put skew steepening, reflecting growing demand for downside protection.
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