Risk and Uncertainty, Market and Geopolitical

One way to visualize:

Disposition of some US naval groups (CSGs, etc.), as of Nov. 2.

Source: USNI.

Highlighting the seriousness of the situation, it has been two decades since two CSGs have operated in the Mediterranean simultaneously; and two decades prior to that for the previous episode.


Figure 1: VIX (left scale, blue), Geopolitical Risk index (right scale, tan), Global EPU at market prices (green, right scale). Source: CBOE via FRED, Caldara and Iacoviello, policyuncertainty.com.


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