The Fuse
What are futures doing?
Equity futures are rising this morning as more optimism about the end of the Iran War is floated, but there is still a bit of worry out there. This being the first of the month we often see bigger money flows put to work.
News
Stocks across the pond were generally down, the STOXX off .2% and the FTSE down the same amount. The dollar index was flat, crude oil climbing 3% while gold is losing some ground, off about 1.2%. Silver is slightly higher as volatility comes down for this metal. Yields are rising which is a concern, German bunds up 4bps and 10 yr US treasury up 3bps, In Japan the Nikkei was up .9%, Hong Kong up nicely, higher by 1% and Shanghai down .3%.
Volatility
Market volatility is lower than it has been in awhile, and under 16% is a signal for the market to show complacency. But that is a condition and not a signal, hence this could remain for awhile, until the next crisis (which is largely unknown).
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