The CBOE Volatility Index (.VIX) is making a run to its lows of the day, recently down .53 to 22.28. VIX fell as stocks enjoyed a morning rally, led, in part, by the brokers. Lehman (LEH) hit a low of 38.72 in early trade, but has since rebounded to $40.87, or up 33 cents on the day. Bonds have given back all of this mornings gains and a good chunk of yesterdays as well. Consequently, the yield on the ten-year made a run back above 4.5 percent. The dollar also took a turn for the better. The buck briefly tested the 100 level on the yen in morning trading, but has since rebounded to 101.25.
Category: All Indexes
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Frederic Ruffy is a well-known trader, writer, and strategist who has spent years educating investors and creating intelligent, insightful, unbiased market observations that are frequently cited by the Wall Street Journal and other financial publications. As senior analyst, Fred provides frequent and regular notes and daily updates for activity of interest.