The Fuse
What are futures doing?
Not seeing too much movement this morning, the futures are mixed on this expiration Friday. ES futures up but Nasdaq and Dow futures trading off as rates are modestly higher.
News
A bit of momentum carryover from the US markets, the STOXX up .4% led by gains in Germany and France. The FTSE was flat, gold is rallying again as is silver, crude oil is quiet. The US dollar fell, printing the first weekly close lower in a month. In Asia, gains in Japan up 1.5%, Shanghai by .25% and Hong Kong gained .55%. German bund yields eased sharply, down 8 bps while 10 yr US treasury yields are up 5bps.
Volatility
We saw a bit of market volatility yesterday but it is back down near 16%, always a dangerously low figure. The wide move yesterday from down 50 to up 25 is typical of a higher volatility index, perhaps fear is just getting started.
If you are an existing Market Blast or Trader’s Pass member, log in here:
