CBOE Volatility Index (.VIX) is up .44 to 20.40 and session highs after December Chicago PMI was revised down to 58.7. The initial report, released yesterday, showed an increase to 60, up from 56.1 in November. Economists had been expecting 55.1. So, even after today’s adjustment, the headline number was significantly better than expected. The revison was due to changes in sasonal adjustment factors.