Key Takeaways with Craig

The selling pressure on stocks abated, at least for today, as the major US Indexes were mostly higher, though the Dow Jones Industrials turned lower in the last part of the cash equity trading day .  In somewhat choppy trading, the Nasdaq led the gains, as the E-mini Nasdaq-100 is up by about 1.75%.  Interestingly, implied volatility in the E-mini Nasdaq-100 options actually rose slightly, even with the rally in prices. 

According to CME Micro Treasury Yield futures, US Treasury yields fell today in another steepening move as you can see here:

  • Micro 2-Year Yield:  -1.3 basis points
  • Micro 5-Year Yield:  -7 basis points
  • Micro 10-Year Yield:  -9.5 basis points
  • Micro 30-Year Yield:  -10 basis points

In other CME Group markets, the US Dollar strengthened versus most major currencies, Gold futures prices fell and WTI Crude Oil futures prices declined again and were trading under $100 per barrel in late afternoon action. 

While the volatility in markets such as Equities and Energies have been well-documented lately, CME FX markets have also been extraordinarily volatile yesterday.  As you can see in the QuikStrike graphs below of price and volatility in the Canadian Dollar (top) and Aussie Dollar (bottom), both are at recent low levels against the US Dollar and both are near the top of the implied volatility that we’ve seen in the recent past.  

Today's Future Price Action

Traders Resources

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