The Canadian Index

All content, including the full-resolution download, is provided at no charge.

Line chart showing the VIX holding near 15.85 despite Iran sanctions and Canadian tariff escalation in late August 2026.

Iran sanctions and Canada's retaliatory tariffs landed within days of each other this week, yet the VIX barely reacted, staying inside the narrow range it has held since early August. Behavioural economists Daniel Kahneman and Amos Tversky's availability heuristic offers an explanation: repeated shocks without matching losses make each additional one feel less probable, not more. Jackson Hole on Friday and the Bank of Canada's September 2 decision are the next tests of whether that compression holds.

This chart is presented for general informational purposes only and does not constitute financial, investment, tax, or legal advice. Figures reflect the source and period indicated and may no longer be current.

Download Hi-Res JPEG (No Watermark)
Line chart of the Cboe VIX volatility index daily close from September 8 to October 6, 2026, staying within a narrow band.

Behavioural research on habituation suggests that a repeating shock eventually stops moving a risk gauge.

VIX Daily Close and Habituation to Oil Shocks, September 8 to October 6

October 7, 2026

View chart & download
Line chart showing the VIX volatility index holding a narrow range through late August 2026 despite trade war headlines.

The VIX has held a narrow range for most of August even as Ottawa confirmed C$27.6 billion in retaliatory tariffs and Washington unveiled a sweeping new Iran sanctions campaign.

The VIX Has Not Moved in Three Weeks. That Is Not the Same as Markets Judging the Trade War Small.

August 26, 2026

View chart & download
Line chart comparing University of Michigan consumer sentiment with the S&P/TSX Composite over 13 months to September 2026.

Consumer sentiment and the Canadian equity index have moved in opposite directions in most months of the past year.

Consumer Sentiment Falls While the TSX Rises

September 28, 2026

View chart & download
Line chart of the S&P/TSX Composite and Cboe VIX from September 9 to October 8, 2026, with a line at the August 25 close.

The volatility index has stayed inside a narrow band despite a Federal Reserve rate increase on September 16, which suggests markets are calm.

S&P/TSX Composite Against the Cboe VIX, September 9 to October 8

October 9, 2026

View chart & download
Line chart of the VIX daily close from September 2 to October 1, 2026, with an October average reference line.

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

October 2, 2026

View chart & download
Line chart of the Cboe Volatility Index daily close from September 10 to September 29, 2026.

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.

Cboe Volatility Index (VIX), September 10 to September 29, 2026

September 30, 2026

View chart & download