The Fuse
What are futures doing?
After a moderate loss equity futures are getting back some of it with a higher open. If the print holds at 930am EST much of those losses will be recovered and this may signal just a test of lower levels. Critical week to hold the highs.
News
Stocks are slowly moving higher across the globe with the STOXX in Europe higher by .2% on small gains in France and Germany. The FTSE was down .1%, the dollar index lost the same amount. Crude oil is modestly higher, gold is ripping better than 1% and silver is higher by 2%. Yields are falling modestly with German bunds and US 10 YR treasuries off 1bp. Japan climbed .4% but Hong Kong was lower by 1.2%, Shanghai up .5%.
Volatility
Volatility peaked on Tuesday but the vol sellers are back, trying to bring the VIX down again. This group has been aggressive lately, pushing volatility down and allowing bulls to step in and buy stocks.
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