Summary of current state
Market indicators—Most indicators changed little over the previous month. VIX increased, closing the month at 30.69, while OAS continued to inch closer to its typical range. The Treasury yield curve spread inched slightly higher, and still remains significantly higher than pre-crisis levels, indicating that the market continues to believe interest rates will rise. The U.S. equity markets ended October on a downbeat note, with the Russell 3000 Index losing about 2.6%.