As midsummer sets in and the trauma of the springtime sell-off fades, the markets are whispering, “Don’t worry.”
With every orderly ratchet higher to a record high in the benchmark indexes, affirmed by a breakout in bitcoin as gold sleeps, a steep retreat in market volatility and a collapse in corporate-credit spreads, the investment universe is telling you to relax.
It would be unwise to tune out the message, given the tone of the tape and the tilt of the evidence. But it never hurts to try to anticipate what the markets might find if they soon go looking for something new to worry about.
With its uptrend reasserted, the S&P 500 is up some 30% from the early-April tariff-panic low, an extraordinary recovery in just over three months. It has now logged eight record highs this year, not bad but not close to last year’s total of 57.
Source: https://www.cnbc.com/2025/07/12/the-markets-are-telling-you-not-to-worry-with-steep-drop-in-volatility-should-you-listen.html