MGLens● As of 16 Oct 2026
MethodologyArchive
The dialVolatilityEquitiesCreditRatesFXCommoditiesCryptoMacro

Which asset class matters most right now — and why.

Each class is scored on how much of the week's market action it took versus its usual share over the past 2 years (1.00× = typical), and ranked hot → quiet, left to right.

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Stress concentration ×4.8Implied vol complex ×6.4volatility2.53×Forward earnings ×2Market breadth ×3.4Factor returns ×4.7Equity volatility ×5.6equities2.17×Spread complex ×2.7credit1.90×Rates volatility ×4.8rates0.95×FX volatility ×3.8fx0.76×Roll yield & carry ×4commodities0.63×Oct 16, 2026Activity 0.57× · hot → quiet, left to rightasleep this week: crypto · macrovolatility2.53×Implied vol complex ×6.4Stress concentration ×4.8equities2.17×Equity volatility ×5.6Factor returns ×4.7Market breadth ×3.4Forward earnings ×2credit1.90×Spread complex ×2.7rates0.95×Rates volatility ×4.8fx0.76×FX volatility ×3.8commodities0.63×Roll yield & carry ×4cryptoasleepmacroasleep
in the spotlightwarmquieton this week's board

Volatility · 2.53×

full volatility view →#1
Volatility moved more than anything else. 9-day implied vol (VIX9D) went from 11.26 to 20.12, its biggest move since June 10. The MOVE/VIX ratio went from 6.53 to 5.06. Two of its four groups moved at once.
Implied vol complex
Cboeunavailable
Stress concentration
Cboeunavailable

Equities · 2.17×

full equities view →#2
A busy day in equities. RSP vs S&P, 200-day went from -0.04 to -0.02, its biggest move since September 22. Momentum factor swung from +2.7% to -4.3% on the month.
Market breadth
Yahoo Financeunavailable
Factor returns
MarketGraphsunavailable

Credit · 1.90×

full credit view →#3
Credit had a single story. HYG ETF flows went from 0.47 to 1.46, 2.7 times its normal pace.
Spread complex
FREDunavailable
Default cycle & lending
FREDunavailable

Rates · 0.95×

full rates view →#4
Only one thing moved in rates. The MOVE/VIX ratio went from 6.53 to 5.06, its biggest move since September 24.
Rates volatility
Cboeunavailable
Flows & positioning
FREDunavailable

FX · 0.76×

full fx view →#5
FX had a single story. Dollar-yen realized vol moved from +6.0% to +4.5%, 3.8 times its normal pace.
FX volatility
Yahoo Financeunavailable
Emerging markets
FREDunavailable

Commodities · 0.63×

full commodities view →#6
Only one thing moved in commodities. Oil futures roll drag went from +3.9pt to +7.0pt, its biggest move since October 1.
Roll yield & carry
Yahoo Financeunavailable
Agriculture
Yahoo Financeunavailable
7cryptoasleep — No news in crypto.full crypto view →
8macroasleep — Macro was quiet. Nothing moved beyond its normal range.full macro view →

Descriptive research, not investment advice