Key Takeaways with Craig
Despite the holiday-shortened week, there was no lack of price action as US Equities sold off today after a stronger than expected May Employment report. US Treasury yields initially jumped when the jobs number was released but finished higher by just 2-3 basis points from the Micro 2-Year through the Micro 30-Year. Taking a look at the weekly price and volatility changes on the week using QuikStrike data, we find:
- E-mini S&P 500 and Nasdaq-100, after some back and forth throughout the week, wound up down just slightly and implied volatility in the options markets was also near steady on the week
- WTI Crude Oil continued to rise and the July contract was trading at over $120 per barrel in late afternoon action
- Gold prices after some back and forth wound up near steady on the week as implied volatility in the options remains relatively low
- 10-Year Treasury Yields jumped on the week, as per the Micro 10-Year Yield prices
- Natural Gas price and volatility both declined but remain elevated relative to historical norms
We wish all of our In FOCUS readers a safe and enjoyable summer (for those of us in the Northern Hemisphere) weekend and we’ll see you on Monday.
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