Key Takeaways with Craig
Despite headlines this week of partial economic shutdowns in China due to a COVID-19 outbreak, the first hike to the Fed Funds target rate since December, 2018, a 21 basis point increase in the 2-Year Treasury Yield, the narrowing of the spread between 2-Year and 10-Year Treasury yields to about 12 basis points and, of course, the continuing invasion of Ukraine by Russia, US Equities rose again today and logged substantial gains on the week.
Using QuikStrike data, we compiled the chart below that depicts the net price and volatility changes on the week in some of CME’s major products.
- E-mini S&P 500 and Nasdaq-100 were up by 6 and 8% respectively while implied volatility dropped dramatically
- WTI Crude Oil price was down by about 3% but was down 12% on the week on Wednesday
- 10-Year Micro Treasury yield was up by about 14 basis points. As we stated before, the difference between the 2-Year and 10-Year Micro Yields has fallen to about 12 basis points
- The price of Bitcoin futures continues to be volatile, up about 9% this week
We wish our In FOCUS readers a happy and safe weekend and we’ll see you on Monday.
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