Key Takeaways with Craig
And that’s a wrap on February. US Equity prices were mostly lower and US Treasury yields were little changed as the dust settles on another month of trading. Using QuikStrike and CVOL data, we took a look back at the monthly changes in price and volatility in some of CME’s major products:
- US Equity Index prices were slightly lower and implied volatility rose slightly.
- Gold futures prices declined by 6% while the CVOL level dropped by over 10%.
- US Treasury yields continued to climb and the inversion between the 2 and 10-Year went from about 60 basis points to nearly 90. CVOL levels moved sharply higher.
- Natural Gas futures prices, after a recent recovery, wound up down 7%, but had declined by much more than that as of about a week ago. Implied volatility in the options dropped significantly.
- Bitcoin futures were slightly higher while options volatility continued to drop.
With February now in the rearview mirror, we will find out if March comes in like a Lion or a Lamb tomorrow. Have a great evening and we’ll see you then.
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