It has become one of the knottier puzzles on Wall Street.
As political risks have increased at home and abroad, complacency among investors has rarely been so widespread.
This trend, which began soon after President Trump's victory in November, culminated on Monday, when the VIX index, known widely as Wall Street's fear gauge, dipped briefly below 10 — the first time it had done so in more than 10 years, in the months before the financial crisis.
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