Key Takeaways with Craig

It’s hard for this author to believe, but today’s market action ends the trading week, month and even the first quarter of 2024!  It was quite a quarter that saw major US Equity Indexes hit record high levels, Treasury yields rise and the price of Bitcoin futures rally by nearly 70%.  In our recap, we’ve included a “3 for 1”, detailing the QTD, MTD and Weekly net price and volatility changes in some of CME’s major products using QuikStrike and CVOL data. 

  • As stated, US Equity Indexes rallied this quarter, though they were little changed on the week.  Even though implied volatility is slightly higher than it was at the end of last year, it continues to trade at relatively low levels. 
  • WTI Crude Oil prices are up 16% this quarter while CVOL in the options is trading at or near multi-year lows. 
  • Gold prices have risen by about 7% so far this year and, after CVOL rose this week, it is trading closer to historical norms than the recent low levels we saw. 
  • CME’s 10-Year Treasury Yield future is trading about 35 basis points lower than it was at the end of 2023 and CVOL levels have sold off recently.
  • Similarly, CME’s FX CVOL levels are trading at or near multi-year lows.
  • CME’s Agricultural markets were particularly active today, after the release of the prospective plantings report.
  • Finally, as has been well-documented in the financial press, Bitcoin futures are up by nearly 70% on the year. 

In observance of the Good Friday holiday, we will not be publishing tomorrow.  We wish everyone a healthy and safe weekend and we’ll be back on Monday to report on the beginning of Q2!

Today's Future Price Action

Traders Resources

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