Key Takeaways with Craig
And so ends an historic week in the financial and commodity markets. US Equity prices made a dramatic comeback during the second half of yesterday’s trading day and continued today. After all the back and forth action, here are the week’s net price and volatility changes in some of CME’s major products, according to QuikStrike data:
- Prices of both the E-mini Nasdaq-100 and S&P 500 rose on the week and implied volatility actually fell slightly. 30-day implied volatility in the Nasdaq-100 was trading around 28% this afternoon but closed at 33% on Wednesday
- WTI Crude Oil was only up by about 1% on the week at around $91 per barrel but hit $100 earlier in the week. Implied volatility was up slightly but well off the highs we saw earlier in the week
- 10-Year Treasury Yield which fell sharply with the Russian invasion of Ukraine wound up higher on the week
- Bitcoin prices were lower but well off the low levels we saw earlier in the week
Finally, a couple of weeks ago CME Group’s FedWatch tool was pricing in over a 90% chance of a 50 basis point hike at the March FOMC meeting. That has now fallen to 21% with a 79% chance of a 25 basis point hike.
We wish all of our In FOCUS readers a happy and safe weekend and we’ll see you on Monday.
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