At-a-Glance
Key Takeaways with Craig
US Equities fell again today and are trading near 2022 lows. Due to scheduling conflicts, we had to write the Key Takeaways section with a couple of hours left in the trading week, but as of mid-afternoon, here is a recap of net price and volatility changes in some of CME’s major products on the week. As we often do on Fridays, we used QuikStrike data to compile the chart below. Some highlights (or lowlights, if you will) include:
- Major US Equity Index prices were down by about 5% and implied volatility in the options spiked higher
- With today’s 6% price decline, WTI Crude Oil futures prices were down by about 7% on the week and implied volatility in the options rose
- The US Dollar rose substantially against most major foreign currencies in CME’s futures markets
- US Treasury Yields continue to climb, particularly at the short end of the yield curve where the Micro 2-Year Yield futures is trading at over 4.2%
With one week left, September is certainly living up to its reputation as a historically volatile month in financial and commodity markets. We hope all of our readers have a nice Fall weekend and we’ll see you on Monday.
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