Europe

While US equity markets drift endlessly higher on sea of Trumptopian euphoria (and retail ETF ramps), European equity investors have hit the panic button this week.

In the last week, investors have been piling into European VIX futures - hedging for a potential catastrophic end to the market calm ahead of French and Dutch elections.

Historically, European 'VIX' has traded around 20% higher than US 'VIX' over the last 8 years. The current spike to an 80% premium is unprecedented.

Via Douglas Murray of The Gatestone Institute,

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Via Soeren Kern of The Gatestone Institute,