Key Takeaways with Craig
US Equity prices fell and Treasury yields rose sharply after this morning’s release of the CPI report that reflected higher than expected inflation rates. CME’s E-mini Nasdaq-100 price fell by nearly 3.5% to lead the losses among the major indexes. Let’s look at the weekly net changes in some of CME’s major products:
- E-mini S&P 500 and Nasdaq-100 prices fell by 5% and 6%, respectively. Implied volatility jumped higher today, particularly in the Nasaq-100 options
- WTI Crude Oil futures prices wound up near steady on the week
- Micro 10-Year Treasury Yields jumped and implied volatility in the options spiked higher. Also, not pictured in the chart below, the Micro 2-Year Yield rose by 24 basis points today. The difference between the Micro 2 and 10-Year Yields fell to only 4 basis points
- Implied volatility rose in almost every product we looked at
We wish all of our readers a happy and safe summer weekend and we’ll see you on Monday.
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