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Editor's Note: Below is a brief excerpt and chart from today's Early Look written by Hedgeye CEO Keith McCullough. Click here to learn more.

It’s one thing for volatility to cluster, episodically, then fade. It’s entirely another for a breakout in volatility to start to trend. We define @Hedgeye TRENDs as 3 months or more in terms of duration. 

As you can see in today’s Chart of The Day below from our full-time Volatility Analyst, Ben Ryan, what we have currently in Global Macro markets is a Trending Breakout In Volatility

For many US centric equity investors this is new. If you invest globally, far from it. 

As you can see in the table of volatility data: 

  1. The move in Short-term Volatility (VSTN) for the SP500 just ripped +22.5% in the last week… whereas
  2. The 3-month ramp in Global Equity, ex-KOSPI, has been broad-based 

As you move down the table you’ll obviously make your own observations but...

CHART OF THE DAY: Volatility Breakout - 09.11.18 EL Chart

CHART OF THE DAY: Volatility Breakout - early look