Low Volatility. High Uncertainty. What Gives?

This market is anything but normal. And the current state of the markets has gotten more bizarre since November 2016. Stocks have continued to surge on the surprise election of President Donald Trump. All the while, uncertainty – both at home and abroad – continues to grow.

Meanwhile, the most bizarre part is that the CBOE Volatility Index – the market’s measure of fear and uncertainty – is strangely low.

How can this be? Is this all part of the new standard playing out or is something more sinister afoot? Perhaps more importantly, is there anything we can do with our portfolios?