Low VIX caused by ETFs, not options-hungry day traders, says the BIS

Persistently low levels for the CBOE VIX index are likely the result of investors piling into yield-enhanced exchange traded funds, according to the umbrella institution for central banks. The Bank for International Settlements, based in Basel, Switzerland, says in its quarterly report published Monday that a low VIX of late is unlikely to have been caused by retail traders’ predilection for buying short-term options and was instead caused by the popularity of structured products which off