Global markets are sleepwalking - ANZ

Analysts at ANZ explained that the VIX volatility in the US S&P 500 is in single digits, its lowest level in nearly a quarter of a century, and major equity indexes are at or near record highs. 

Key Quotes:

"If plunging hard commodity markets are trying to tell us something about the state of the Chinese economy, markets aren’t listening. The Federal Reserve is widely expected to raise the fed funds rate for a fourth time in June: a quarter percent here, a quarter percent there, and pretty soon you’re talking real lifts in borrowing costs. But markets remain utterly unflappable. For now."