Volatility Has Increased But Still Below Average Levels Of The Last Few Years

The 31-day standard deviation for the daily price change of MSCI World Index has increased from  a 20-year low of 0.27% in July to 0.59%. This puts it at the approximately the average level realized in 2013 but still well below the average levels since 2009. The most significant increase in daily volatility has been in North America as volatility has increased to seven-month highs.