The Week In Review

By Craig Bewick
APR 23 2021

Happy Friday to our In FOCUS readers.  After what seemed like a quiet start to the week in the US Equity markets, we saw a sell-off yesterday followed by a rally to end the week today.  As we often do on Friday’s we took a look at net price and volatility changes for the week in some of CME Group’s major products.  It shouldn’t come as a surprise to regular readers because we’ve written about it several times this week, but the grains markets kind of stole the show:

  • Corn futures prices were up by 11% and Implied Volatility rose from about 27% to 36.5%
  • Soybean futures prices were up by 7% and Implied Volatility rose from about 18% to nearly 25%
  • Bitcoin futures prices were down by nearly 20% while Implied Volatility rose to nearly 85%
  • After the back and forth action we mentioned, the major US Stock indexes wound up near steady on the week

Finally, we’re going to try to add a feature to our Friday newsletters. Now that we took a look back at what happened this week, we turn our attention to the coming week.  In looking at the Economic Release calendar, here are some events that we’re looking forward to (this is not meant to be comprehensive, but thought it was worth pointing out):

  • Corporate Earnings reports continue including some big Technology names
  • Durable Goods – Monday 4/26
  • FOMC Decision announcement and accompanying statement – Wednesday 4/28
  • US GDP – Thursday 4/29
  • Chicago PMI – Friday 4/30
  • Consumer Sentiment – Friday 4/30

As always, we wish all of our readers a happy, healthy weekend and we’ll see you on Monday!

ABOUT THE AUTHOR

Craig Bewick has spent 25 years in futures and options markets, starting at CBOT and CME working in risk management, regulatory, technology, product management and client development. 

Connect with Craig at activetrader@cmegroup.com

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