Key Takeaways with Craig

Selling pressure returned to US Equities today as all four major indexes were lower with the Nasdaq leading losses, down by nearly 3%  After declining yesterday, US Treasury yields traded higher today as follows:

  • Micro 2-Year Yield:  +5.5 basis points
  • Micro 5-Year Yield: +10.5 basis points
  • Micro 10-Year Yield:  +5.2 basis points
  • Micro 30-Year Yield:  +2 basis points

All of these prices were as of about 2:15 Chicago time and, as you can see, the 2s versus 10s inversion remains at about the same level as it was trading yesterday. 

Other notable moves at CME include

  • RBOB Gasoline futures which were down by about 2%
  • Copper was up by about 2% and Aluminum was up by about 4.5%
  • British Pound futures prices rebounded; up by about 1.6%

CME’s Foreign Currency products continue to be active as the market assesses the potential impact of the actions of global central banks.  The QuikStrike graph below illustrates that even as the British Pound has gained versus the US Dollar over the last couple of trading sessions, it remains historically low and implied volatility in the options continues to trade at elevated levels.

Remember, CME offers several different major foreign currency products so that you can choose one that best fits your desired risk/reward profile:

  • Standard FX Futures
  • Micro FX Futures
  • Options on Standard FX Futures with expirations every Monday, Wednesday and Friday
Today's Future Price Action

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