The $VIX spiked 74% higher yesterday, the 2nd biggest 1-day % increase in history
Volatility is back. Source Charlie Bilello
🚨FROM THE MOST EUPHORIC MARKET IN HISTORY TO A COMPLETE BLOODBATH IN 2 HOURS🚨
US stocks, Gold and Bitcoin massacred after the Fed cut rates by 0.25% and expect fewer cuts in 2025 and 2026 due to inflation concerns. VIX and US dollar spiked. Performance yesterday: S&P 500 -3.0% - biggest drop since March 2020 CRASH Nasdaq -3.6% Russell 2000 -4.7% Dow Jones -2.6% Bitcoin -5.5% Bank Index -4.2% VIX +54% front mth futures VIX +17% Gold -2.2% Silver -3.3% WTI Crude Oil -0.9% Source: Bloomberg, Global Markets Investor
Average Daily Options Volume jumps to an all-time high.
Source: Barchart @Barchart
🚨 Saudi Arabia's U.S. Treasury Holdings are now the largest in more than 4.5 years
Source: Barchart, Bloomberg
ALL DAY TRADING IS COMING??
This start-up stock exchange just won approval from the US SEC to allow nonstop trading 23 hours a day, 5 days a week. Trading technology pioneer Dmitri Galinov's 24 Exchange has secured regulatory approval to launch what could become America's first near round-the-clock equities trading venue, marking a potential watershed moment for US market structure. The extended hour trading is subject to Equity Data Plans making changes that would facilitate overnight trading hours and 24X National Exchange making an additional rule filing with the SEC confirming the changes and the Exchange’s ability to comply with the Securities Exchange Act. The Securities and Exchange Commission (SEC) has greenlit 24X National Exchange, the latest venture from Galinov, who previously founded FastMatch - now Euronext FX - and held senior roles at Direct Edge. The approval represents a significant milestone for the firm, which has been steadily expanding its trading offerings since its 2019 launch. The exchange will roll out in two phases, with initial trading hours from 4:00 AM ET to 7:00 PM ET on weekdays, starting in the second half of 2025. The second phase would extend trading from 8:00 PM ET Sunday through 7:00 PM ET Friday, subject to approval from Equity Data Plans and additional SEC requirements. A one-hour operational pause will occur during each trading day to accommodate routine software upgrades and functionality testing. (Source: www.liquidityfinder.com)
Options traders are betting 10-Year Treasury Yields could rise as high as 4.9% in the coming months
Source: Barchart, Bloomberg
It has been a very quiet year... Can we expect the same in 2025???
Source: Asym 50, RBC
YTD returns
Source: IceCap
