The Fuse
What are futures doing?
Solid start to the trading day perhaps as futures are rolling higher, nothing huge but traders are preparing for anything that might trip up this market. President Trump speaks on CNBC at 830am EST.
News
Slight gains in Europe as the STOXX inched higher by .1%, FTSE was flat. US dollar index rose .1%, gold and silver down slightly while crude oil is flat. Yields on the US 10 yr treasury are up 1bp, Stocks in Asia were higher with Japan gaining .9%, Hong Kong up .3% and Shanghai inching higher.
Volatility
The VIX continues to remain low even if it is not driving lower each day. The 18 level is going to be tough to penetrate down but realized volatility is declining, which could help a decline in implied vol. Term structure is back into bullish formation.
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