At-a-Glance
Key Takeaways with Craig
So much for a quiet day ahead of the FOMC decision.. US Equities fell, Treasury yields rose, Gold futures prices were down over 2% and Bitcoin futures fell by nearly 5% to end a volatile month. As the dust settles on April, we’ve recapped the monthly net changes in price and volatility in some of CME’s major products below. As always, we used QuikStrike and CVOL data to compile the chart. Some highlights:
- Volatility was higher in every product except for the two products that tend to trade with the highest implied volatility levels: Bitcoin and Nat Gas options.
- Major US Equity Indexes, after today’s sell-off, were down by about 5% while implied volatility spiked higher on the month.
- After coming off of all-time highs, Gold prices wound up higher by about 3% on the month, while CVOL was higher but off of levels we saw earlier in the month.
- US Treasury Yield futures were higher by about 46 basis points and CVOL spiked, though from relatively low levels.
- With today’s price break, Bitcoin futures prices were down 16% during a month that included the “halving” event.
That’s where we stand as we roll into May with a lot of news left in the cycle over the next couple of days. We’ll be back tomorrow reporting on the market reaction to the announcement expected at the end of the FOMC meeting.
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