In today's Macro Volatility Digest:
🔹 Risk assets sold off last week as oil prices jumped to a 3-month high on escalating Middle East tensions and US core inflation surprised to the upside.
🔹 The VIX® Index gained 1.3 pts last week to 15.8%, with more than half of the move coming from a steepening in SPX skew and convexity.
🔹 Tail hedging in the equity market has picked up as well, particularly via VIX options.
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