Fear bubbles along with crude oil. The CBOE Volatility Index (.VIX) is trading at session highs, up 1.40 to 19.61, as stocks suffer an afternoon meltdown. The financials came under pressure early in the day and set a poor tone for midday action. Then, as crude oil bubbled to more than $123.50 a jug, the equities faltered and VIX hit its best levels of the trading session. Bonds found an afternoon bid and the benchmark ten-year Treasury was recently up 9/32, yielding just under 3.9 percent. The buck is ticking higher on the yen (104.88) and the European currency (1.54), while gold settled down $6.50 to $876.20 an ounce.
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.