The first snowfall of winter arrived in Vancouver this morning, about the same time as news reports signal a “general chill-out” on many investment fronts. We’re told here that improved housing and signals of “China on the mend” are among indicators that could be blurring realities of greater risks lurking on the horizon. “Myles Zyblock, chief institutional strategist at RBC Capital Markets worries that markets aren’t sufficiently taking into account the risk of an economic-policy debacle.” Strong words. He describes one market volatility index as “a coiled spring” that could be disguising market dangers. For today though, the snowfall here is adding calm to the local landscape – unless you happen to be out driving in it.