At-a-Glance
Key Takeaways with Craig
US Equity Index prices ended up mixed and Treasury yields fell after the Fed, as CME’s FedWatch tool had suggested, raised the its Fed Funds target rate by 25 basis points. The Dow Jones Industrials and Russell 2000 both gained on the day, while the Nasdaq-100 fell. In CME’s Micro Treasury Yield futures market, both the 2 and the 10-Year Yield contracts were lower by about 5.5 basis points.
In CME’s commodity markets, WTI Crude Oil futures prices fell by less than 1%, Grains futures were lower, led by Wheat, which was down by over 5% and Gold prices were near steady on the day.
Looking ahead, tomorrow brings us the release of US GDP, which will provide the latest read on the growth in the US Economy. As we did yesterday, we included a QukStrike graph of the volatility curve in CME’s E-mini Nasdaq-100 options. The orange line represents yesterday’s implied volatility settlement level and the blue line, the current level. As you can see, while the volatility in the options that expire tomorrow and Friday remain elevated relative to the more deferred options, the level has dropped considerably from yesterday.
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