In retrospect, June 2014 was actually the exact bottom of the volatility, as we wrote back then as of June 29, 2014:

“In addition, the volatility, which the Global Macro funds have relied on to make money, has also been tamed by the Fed during the last couple years. However, Contrarian Capitalist thinks the volatility will come back towards the end of the taper, should the course of the taper continues.”

Source: Yahoo Finance