Price swings as measured by the Chicago Board Options Exchange Volatility Index (VIX) have fallen 29 percent in August, poised for the biggest monthly drop since June 2012. The VIX is less than three points from a record low. Trading volume over the past four days has been the slowest since at least 2008, excluding the end of December, with a daily average of 4.4 billion shares changing hands, data compiled by Bloomberg show.

While stocks were jolted last month by violence across Ukraine and the Middle East and concern interest rates are poised to rise, tranquility has returned with the Standard & Poor?s 500 Index creeping back to an all-time high. The equity benchmark is little changed over the past three days after a rally that pushed it over 2,000 for the first time.

?Fear has dissipated so quickly,? Stephen Solaka, a managing partner at Los Angeles-based investment firm Belmont Capital Group, said by phone. ?We snapped back pretty quickly from the selloff in late July and early August. Now, we?re just sort of treading water.?

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