The midnight deadline arrived, and the government shut down is officially underway. But the reaction by global asset markets was sanguine, after 2 days of declines. As I discussed in yesterday’s Macro Wrap, some market …
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Risk-off is in full swing overnight after the Congressional impasse deepened over the weekend, and the Italian parliament also was at risk of dissolving, leading to new elections and a potential hung parliament scenario. SPX …
Continue readingGlobal markets were most focused on U.S. Congress because the budget debate continues ahead of the Sept. 30th deadline (not to be confused with the debt ceiling debate that has a mid-to-late October deadline). U.S. …
Continue readingStocks in Asia were mixed, with Japan staging an impressive turnaround, but China selling off 2%. European stocks opened green, but quickly turned red. SPX futures rallied to up 7 points just prior to the …
Continue readingStocks in Asia and Europe were mostly red, with markets most focused on the U.S. political gridlock. S&P 500 futures were down to a 1687 low overnight, a new 8 day low. Asian Equities Decline, …
Continue readingFinancial assets were relatively quiet in the overnight session. U.S. economic releases today include housing data at 9:00 am EDT, and the Richmond Manufacturing Index and Consumer Confidence at 10:00 EDT. Asian Equities Mostly Red …
Continue readingThe headliner of the weekend was Angela Merkel and the CDU’s convincing victory in the German elections. The result was widely expected. Merkel and CDU Win Election, But Fall Short of Majority – Though the CDU …
Continue readingClearly, all markets are more volatile than they have been for at least 18 months. Not much to add, just wanted to add the table showing that all implied volatilities are now above their 52 …
Continue readingEven though the SPX is actually 10 handles higher week-over-week, implied volatility has held up better than would be expected across global equity markets. Vol for the major equity indices are right around their 52 …
Continue readingVolatility markets in every asset class except bonds are in almost the exact same spot they were a week ago, as markets have been jittery, but largely unchanged over the past week. The volatility in …
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