The VIX Curve Upward Sloping

Interest rates are driven by two things. One is monetary policy and the other is fiscal policy. Whoever's in charge of the Fed affects what that short term rate is going to do. The second is on the fiscal side, which is that 10 year bond is not a rolling basket of three month bonds. It's a 10 year instrument. And I think the reason why you get that knee jerk pricing of event risk is on the one hand. So that fiscal outlook is not that different across the two candidates.