Key Takeaways with Craig
After some back and forth action again today, US Equity prices wound up broadly higher, even after comments from Federal Reserve Jerome Powell that suggested the Federal Reserve would continue to raise interest rates until inflation numbers subside. Implied volatility in CME’s Equity Index options markets continued to trade lower.
Natural Gas futures prices rose another 4% and are trading near recent high levels while implied volatility, at about 92%, is trading at levels we haven’t seen since early February. Nat Gas prices are reflected by the orange line in the top QuikStrike graph below while implied volatility is indicated with the blue line.
Wheat futures prices also rose again and continue to trade near all-time high prices. The lower QuikStrike graph depicts the price (orange) and volatility (blue) for six months in Wheat futures and options.
Finally, US Treasury yields rose today, more on the shorter end as the Micro 2-Year Treasury yield future was up nearly 13 basis points while the 30-Year was up by about 10 basis points.
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