Key Takeaways with Craig
US Equity prices were lower for most of the day, as the market continues to weigh the potential impacts of inflation, higher interest rates and the possibility of geopolitical conflict between Russia and Ukraine, but recoverd to close near the steady mark. Implied volatility, somewhat unsurprisingly, remains elevated in CME’s Equity Index options markets relative to the last three months.
US Treasury yields were little changed today though the Micro 2-Year Yield future showing the largest change among the four tenors, down about 6 basis points today. Implied volatility in CME’s Treasury options markets was little changed as well.
Gold futures prices remain active in the face of higher interest rates and inflation with the April expiration up nearly 1%. The top QuikStrike graph below shows the increase we’ve seen in both price (up about 5% since the end of January) and implied volatility in the Gold market and the lower graph depicts the increase in Call volatility versus Put volatility.
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