Key Takeaways with Craig
On a week that saw major US Indexes trade up to record levels, stock prices closed mixed and US Treasury yields increased slightly. Below are the net price and volatility changes on a week during which a stronger-than-expected US GDP and mild PCE inflation number were released.
- US Equity prices continued to rise and implied volatility in CME’s Equity Index options fell. While E-mini S&P 500 options are trading near recent lows, the Nasdaq-100 options are trading near the 3-month implied volatility average.
- WTI Crude Oil futures prices were up another 6% while CVOL levels were steady on the week.
- The price of Gold futures was near steady on the week but CVOL traded down to 3-month lows.
- Micro 10-Year Treasury Yield was also near unchanged on the week while CVOL declined.
- Bitcoin futures prices bounced back a bit today to come in about 1% lower on the week while implied volatility in the options traded down to levels we last saw in mid-October of last year.
So as the debate over soft landing vs inflation and speculation on Federal Reserve policy carries on, the US Stock market continues to march higher. Have a happy and healthy weekend and we’ll see you on Monday.
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