🔴 Volatility ETF (UVIX) is trading 2.3% down as stronger equities lower volatility-hedge demand

UVIX is trading at $34.38, -2.25%, as stronger equities reduce demand for volatility hedges.

• Major indexes are higher as yields and oil ease, supporting a risk-on tone.
• VIX futures are lower, and the term structure remains in contango, pressuring UVIX’s short-term futures exposure and potentially eroding returns through roll costs.
• Trade-data concerns are also noted, though lower volatility expectations amid stronger equities appear to be the dominant driver.