Markets: It was another seesaw week for the markets, with indexes rocking back and forth from the latest news – biotechs got hit, after Hilary Clinton vowed to take on pharma price gouging, auto stocks were rocked by the enormous Volkswagen (XETRA:VOWG_p) scandal, and on Friday, we had a rally, until 2pm, inspired by Fed Chief Yellen’s Thursday pm speech, in which she asserted that the Fed would raise rates in 2015. The Russell 2000 Small Caps and the NASDAQ erased all of their gains for the month.
Volatility: The CBOE Volatility Index rose 6% this week, finishing at $23.62.
Currency: The US dollar, aided by Fed Chief Yellen’s speech, rose vs. major currencies this week.