At-a-Glance
Key Takeaways with Craig
So much for quiet markets in August! After a sharp selloff in Equity prices on Monday and a steep decline in US Treasury yields, the markets bounced back and forth over the last several days. Here’s where things landed after the dust settled on the first full week of August trading, according to CVOL and QuikStrike data:
- E-mini S&P 500, Nasdaq-100 and Russell 2000 prices wound up near steady on the week and, after a spike early in the week, implied volatility in CME’s Equity Index options markets wound up lower than Friday’s closing levels.
- After settling at 3.78 on Monday, CME’s 10-Year Yield future was trading around 3.94 in late afternoon action today, up on the week. The “2s vs 10s”, which had “un-inverted” was inverted again this afternoon, with the 2-Year yielding about 5 basis points more than the 10-Year. CVOL had come down from last Friday’s levels.
- After settling at about $72 per barrel on Tuesday, WTI Crude Oil was trading near $77 today and CVOL had come down from levels earlier in the week.
- Gold prices and CVOL levels came down slightly on the week.
That’s where we stand as we head into the second weekend in August. For those in Chicago, we hope you enjoy the beautiful forecast and the Air and Water show which is happening a couple weeks early this year, and we’ll see you on Monday!
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