Lead: the single most important number today The VIX fell 5.11% to 15.03, a level that signals traders are pricing in calm rather than stress, even as the dollar softened against both the Korean won (USD/KRW down 0.3% to 1,498.87) and the Japanese yen (USD/JPY down 0.53% to 161.67). That combination — falling volatility, a … Read more
What Happened Wednesday’s opening session of July delivered a sharp risk-on surge: the Nasdaq Composite jumped 3.42% to 26,164, the S&P 500 gained 1.88% to reach 7,492, and the CBOE Volatility Index fell 5.78% to 16.63 — a level that places US equity volatility firmly in a low-regime environment. Korea’s KOSPI gained 0.78% to 8,476, … Read more
The Move Three normally uncorrelated assets sold off in tandem on June 25: equities, crude oil, and gold. That configuration is worth pausing on before explaining it away. The S&P 500 declined 1.69% to 7,346.82. The Nasdaq fell 2.72% to 25,454.94. WTI crude dropped 3.81% to $70.42 a barrel. And gold retreated 3.24% to $3,995.90 … Read more