At-a-Glance
Today’s Top Highlights
Equities are having a bounce back day today after seeing selling pressure to start the week yesterday. There was some strong economic data released today looking at Durable Goods orders and Consumer Confidence that both came in better than expected, and the market was able to finish the day on a positive note with the Russell trading up near 1% on the session. The Gold and Crypto markets also had strong days today even though the overall volatility has been low over the past few weeks.
Looking more into the volatility, it can be helpful to look at the CME Group Volatility Index to see exactly where volatility is relative to the underlying price. One of the recent examples that shows a massive divergence over the last year has been Gold. Since May of this year, the underlying price of Gold has risen steadily while the overall volatility has dropped significantly with more of an accelerated slope. This can be important to track to see long term ranges of where volatility has gone up or down too relative to the underlying price, and many more markets are seeing this drop in volatility over the last few weeks and months.
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