Milliman FRM Insight: February 6, 2018 market update

The S&P 500 roared out of the gate in January, having returned 21.8% in 2017 amidst exceptionally low volatility. After closing at an all-time high on January 26, and up 7.6% month-to-date, the rally was abruptly interrupted. On February 2, the VIX closed at its highest level since the Brexit vote in June 2016.