Ignoring the CBOE Volatility Index (VIX) has been a winning strategy lately despite occasional attempts to remind everyone that a low VIX is a warning sign of impending doom. As I have previously written, I no longer put any weight in the equity VIX so I am seriously considering a substitute: the 10-year Treasury VIX. There really isn’t such a thing and trying to find a correlation between volatility (or lack thereof) in 10-year Treasury and moves in the equity markets is a pretty big leap. But given the useless equity VIX, I thought you might enjoy pondering it as much as I did. Take a look at this chart and try to connect some dots.