The Fuse
What are Futures Doing?
Futures are up modestly this morning but are off their overnight highs. The SPX 500 and Nasdaq both hit new highs yesterday and cemented the uptrend. Liquidity is strong there was plenty of room to rise if volatility started a decline, which it did.
News
Europe pushed higher again with STOXX up .2%, FTSE up .1%, US dollar index was flat while commodities were quite. Crude up modestly, gold up .2% as was silver. Yields are falling, German bunds off 3bps with 10 yr US treasury down 1bp. In Asia, Japan up a robust 2.4%, Hong Kong higher by 1.5% and Shanghai gained .7%.
Volatility
VIX continues its descent into the mid teens, but seems to be stuck here at 18%. There is always a modest premium in volatility and the sizable difference from normal due to the war has been extracted. Earnings season will tell us how much premium will/will not be necessary.
If you are an existing Market Blast or Trader’s Pass member, log in here:
