Up for geopolitical risk, not for financial.
Figure 1: Geopolitical Risk (GPR) index (blue), 7 day centered moving average (red). Source: Caldara et al.
Here are the subcomponents of GPR, GPRD-Action, GPRD-Threats.
Figure 2: Geopolitical Risk Action index (teal), GPR Threats (sky blue). Source: Caldara et al.
Economic policy uncertainty and financial risk are not similarly elevated, thus far (through 3/1 for EPU, through 3/2 noon CT for VIX).
Figure 3: EPU (brown, left scale), VIX (green, right scale). Source: policyuncertainty.com, CBOE via FRED.
That being said, elevated GPR and EPU both rose with slowing economic activity, as illustrated in this post.
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