Market Volatility Ticks Higher as Fiscal Cliff, Debt Ceiling Remain Unsolved (VXX)

The CBOE near-term volatility index has been on the march higher over the last few days heading into the end of the year.

And why not? No deal has been reached on the upcoming fiscal cliff, lawmakers still have the debt ceiling to worry about, holiday sales were reported to be slower than expected, and a gigantic winter storm just hit the Midwest and East Coast. All, coincidentally, after December 21st, too.

The iPath S&P 500 VIX Short Term Futures (NYSE: VXX) ETN is up again in early action Friday. The exchange traded note is up nearly 20 percent since closing at $28.15 on December 18th. On the year, however, shares are down over 76 percent.

The IVX, or Chicago Board Options Exchange Market Volatility Index, is a measure of the expected market volatility over the next 30 days.

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