[NEW YORK] The Cboe Volatility Index or VIX is how Wall Street measures anxiety. Lately it's the gauge's own plumbing that's making people nervous...

IT was the hot trade on Wall Street, a seemingly sure thing that lulled everyone from hedge fund managers to small-time investors.

FINANCIAL markets rebounded strongly in July, with the MSCI AC World index gaining 1.9 per cent while global bonds saw returns of 2.1 per cent. The portfolio rose 1.6 per cent over the month, keeping...