Key Takeaways with Craig

US Equity prices began the second half of the year much like they left off the first, as the major indexes were mixed, with the Nasdaq leading gains and the Russell 2000 leading losses. US Treasury yields jumped to begin the holiday-shortened week, with CME’s 2-Year Treasury Yield rising by about 4 basis points and the 10-Year up by about 13.5.  CVOL in CME’s Treasury options market traded higher today, but remains below the 12-month closing average. 

In other CME Group markets, Energy remained active, with WTI Crude Oil futures prices rising by about 2.25% and Natural Gas prices down by nearly 5%.  Bitcoin futures prices were up by about 5.75% from Friday’s closing levels. 

As mentioned above, the 10-Year Treasury Yield future rose by about 10 more basis points than the 2-Year did today.  This was a continuation of a trend that began about a week ago.  As CME’s Treasury Analytics graph below depicts, the inversion between the 2 and 10-Year Treasury Yield future is as small as it’s been since February. 

Even though it is a 4th of July Holiday-shortened week, there are still some significant economic reports due out.  Among others, Wednesday will bring us the ADP Jobs report and on Friday, the market will be looking toward the June Employment Situation report.  

Today's Future Price Action

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