sp'daily5
VIX'daily3
Summary
US equities opened in minor chop mode, saw a mini washout to sp'2952, before battling back upward into the late afternoon. The closing hour saw a new intraday high of 2989, and settling at 2984.
Meanwhile...
Print Central wheeled out Bullard onto CNBC, who touted that the biggest threat is trade. Powell's (eventual) successor also called for at least one further rate cut of -25bps before year end.
Volatility saw a morning spike high of 18.45, but then melted back lower, with the VIX settling -6.4% at 15.96. S/t outlook offers another swing lower to the sp'2920s, which would likely equate to VIX 19/20s.
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| Through the trees |
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Goodnight from London
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