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Vol ‘too low’ given US uncertainty, say market-makers

Isda AGM: Panellists warn against complacency heading into the summer as US 90-day tariff pause rolls off

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Markets are pricing in volatility levels that are too cheap given uncertainty around how the US tariff situation will play out over time, according to senior market-makers.  

Jared Noering, global head of fixed income trading at NatWest Markets, said he believed volatility was underpriced considering the unknowns related to Donald Trump’s policies going forward.

“I think at this point volatility is

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