VYMI is trading at $107.25, up 3.19% from the September 22 close, with improving global risk sentiment the most likely backdrop as U.S.-Iran diplomatic prospects reduce geopolitical risk. - Asian and European equities are firmer, Treasury yields eased, volatility declined, and oil prices continued falling. - Major U.S. index futures are up roughly 0.01%-0.11%; that does not explain the unusually large pre-market gain alone, which may reflect thin liquidity or indicative pricing.