Key Takeaways with Craig
US Equity prices traded lower while US Treasury yields rose today. CME Energy markets remained active with WTI Crude Oil futures prices up another 2.6% while Natural Gas prices, about which we’ve written extensively here in the Key Takeaways column, fell by about 6.5%.
On Friday the market will get the latest read on inflation when the CPI number is released. Using QuikStrike, we graphed the term structure of volatility in both the E-mini S&P 500 and 10-Year Treasury options. As you can see from the left most point on the blue line in each graph, which represents the implied volatility of the options that expire on Friday, the market is placing a significant premium on the options that expire on the day the CPI is released versus the longer dated options.
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