Key Takeaways with Craig
US Equity prices began the month lower but recovered throughout the day to finish broadly higher. The Nasdaq, which was down relatively more in April, led the gains today, up by more than 1.5%. Implied volatility in CME’s Equity Index options markets ticked lower, but remains elevated compared to the last 3 months.
CME Group interest rates markets were active again as yields jumped throughout the curve. The Micro 30-Year Treasury was up 11 basis points, the Micro 10-Year was up about 8 basis points and the 2-Year was up by about 9.5 basis points. Meanwhile, the US Dollar strengthened against most major currencies in CME’s FX futures markets.
As you can see in the QuikStrike graph below, the price of the 10-Year Treasury is at recent lows (which means recent high yields) and the blue line indicates that the implied volatility in the options markets is trading at recent highs.
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