Low volatility? It's due to low supply of economic surprises, says JPMorgan

London

A SLEW of terrorist attacks in Europe, geopolitical strife from the Middle East to Asia, US policy uncertainty.

Investors have conjured up myriad theories to make sense of historic lows in market volatility across asset classes despite such strong headwinds, citing everything from soaring assets in passively-managed vehicles to the rise of social media.