The VIX closed below its average for the period even though Treasury yields posted their worst quarter this century, with the 10-year yield touching its highest level since May 2002 on September 30. Nine straight weeks of retail net selling of US equities fits the disposition effect, but flow data cannot show which positions are being sold, so the diagnosis rests on pattern, not proof.
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The VIX sits well below its 25-year October average, which includes crisis years such as 2008, so the equity market looks calm going into a month with a reputation for volatility.
Cboe Volatility Index (VIX) and the October Average, September 2 to October 1, 2026
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The VIX is near the one-year low flagged by Cboe even though the 10-year Treasury yield has reached its highest level since mid-2007.
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The volatility index has stayed inside a narrow band despite a Federal Reserve rate increase on September 16, which suggests markets are calm.
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The final point is a 2:46 PM Eastern print from October 7 rather than an official close, drawn dashed because the closing level was not available at publication.
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