EFTA Document EFTA01366176

MARKET COMMENTARY Market Volatility Bulletin "Brexit" Deja Vu? FX vs. Equity Vols Diverge Ahead of Election Link to Report: Market Volatility Bulletin WHAT STAN DS OUT: • Similar to what we saw heading into the "BrexiC referendum earlier this year. equity and FX implied vols have diverged as we approach the Nov 8th us presidential election. While USDMXN 2M implied vol has jumped to a 4-year high in reaction to polls showing Trump in a close race with Clinton. equity vols arc pricing in v