| July 07, 2023 | | | | | Jeff Bergstrom
Editor
John Lothian News | |
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| | | | Observations & Insight | | |
Walt Lukken Reflects on FIA IDX 2023 and the Good That FIA and Its Members Do
JohnLothianNews.com
FIA CEO and President Walt Lukken was interviewed by JLN Correspondent Julie Ros at the FIA International Derivatives Week (IDX) in London recently about the conference and related topics.
Watch the video »
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GlobalRisk founder Steve Probst talks with JLN about the evolving nature of risk and technology
JohnLothianNews.com
JLN spoke with Steve Probst, GlobalRisk founder and inventor of the GlobalRisk Platform, at the OIC Conference in Nashville in April. He discussed the risks his customers need to manage, and how GlobalRisk is evolving to meet their needs.
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| | | | | | Lead Stories | | | VIX ETFs Surge As Job Numbers Send Interest Rates Climbing
ETF Trends
Volatility, as measured by the CBOE VIX, surged more than 7% on Thursday, amid stocks, index futures, and stock ETFs retracing some of their recent gains due to strong jobs data. It sent interest rates rocketing.
The Dow Jones Industrial Average gave up 362 points, or 1.1%, while the S&P 500 and Nasdaq indices fell over 0.8%. The Dow and S&P 500 were headed to hit their worst daily performances since March and May, respectively, but have since recovered from their worst levels as of July 6.
/jlne.ws/3POFwLm
Crypto Trading Volume Dropped to Lowest Since 2019 Despite BlackRock Boost
Olga Kharif - Bloomberg
Trading volume on cryptocurrency exchanges in the three months ended in June was the lowest since the final quarter of 2019 despite a jump in activity during the final weeks of last month.
/jlne.ws/3JPwoCd
Wall Street Traders Reel as Still-Hot Economy Fuels Interest Rate-Hike Bets
Ye Xie and Vildana Hajric - Bloomberg
All of a sudden, the biggest interest-rate shock in decades is rousing traders from their slumber once again with soft echoes of 2022's everything-selloff.
More than a year after central bankers began their forceful monetary tightening campaign, money managers just got blindsided by the latest signs that the world's biggest economy continues to run hot. Cue a renewed in-tandem plunge in stocks and bonds like the bad days of 2022.
/jlne.ws/3NJjsyN
US borrowing costs hit 16-year high as markets unsettled by jobs data
Kate Duguid and Mary McDougall - Financial Times
Investors sold stocks and bonds across the world on Thursday as US borrowing costs touched a 16-year high, following strong jobs figures that intensified expectations of further rate rises by the Federal Reserve.
Europe's Stoxx 600 index closed down 2.3 per cent, its biggest one-day drop since March, as the yield on the two-year US Treasury note â which tracks interest rate expectations â reached its highest level since 2007.
/jlne.ws/44upV8h
What exactly is your problem with stock index concentration?
Bryce Elder - Financial Times
Ever since artificial intelligence was invented eight months ago, people have been writing about the rising concentration of stock indices. The usual way to start is with an observation that the trillion-dollar IT club makes up approximately a quarter of the S&P 500 index by weight â because of AI hype, or possibly, the result of a rotation by investors after the same stocks sold off a year earlier.
/jlne.ws/3JL12MU
Here's what stock-market investors don't like about the June jobs report
William Watts - MarketWatch
Investors sifted through mixed signals in the U.S. June employment report Friday, with sticky wage gains seen offsetting any relief from a slowdown in jobs growth.
Sure, a strong labor market reflects a resilient economy, which should be good news for the stock market, all things equal. But the worry for investors is that healthy employment growth will halt or slow a drop in inflation that remains well above the Federal Reserve's 2% annual target, forcing policy makers to raise interest rates further than expected and risk driving the economy into a steeper slowdown or recession.
/jlne.ws/43bjtBj
| | | | | | Exchanges | | | Cboe Global Markets Reports Trading Volume for June 2023
Cboe Global Markets
Cboe Global Markets, Inc. (Cboe: CBOE), the world's leading derivatives and securities exchange network, today reported June monthly trading volume statistics across its global business lines and provided guidance for selected revenue per contract/net revenue capture metrics for the second quarter of 2023.
/jlne.ws/3JM52ge
Cboe's VPD, VPN and BXN Indices Rose More Than 19% in the First Half of 2023
Cboe
In the first half of 2023 the S&P 500 (total return) Index rose 16.9%, however some of Cboe's indices that track the values of hypothetical options-based or futures-based portfolios had greater gains during that period.
/jlne.ws/3JMzMxE
ICE Sees Strong Demand for Global Soft Commodity Markets as Markets React to Changing Weather Patterns
Intercontinental Exchange
Intercontinental Exchange, Inc. (NYSE:ICE), a leading global provider of data, technology, and market infrastructure, and home to the largest soft commodity futures and options markets in the world, today announced strong first half volumes and open interest across soft commodities as customers respond to changing weather patterns and its impact on commodity supplies.
/jlne.ws/3XE8VcY
Total Return Futures volumes pick up
Eurex
After a lackluster start to Q2, Index Total Return Futures volumes picked up in June. The pick-up had less to do with the usual roll business but more with a shift in market sentiment, combined with a reduction of directional exposure before the summer. This was certainly true for the SX5E, where volumes were up in June and the highest this quarter while overall open interest fell.
/jlne.ws/3rlw1ZN
| | | | | | Moves | | | Cboe Global Markets Promotes Jill Griebenow to Chief Financial Officer
Cboe Global Markets
Jill Griebenow, Senior Vice President, Chief Accounting Officer, appointed to serve as Executive Vice President, CFO, Treasurer and Chief Accounting Officer effective; Current CFO Brian Schell departing company to pursue new opportunity. Cboe Global Markets, Inc. (Cboe: CBOE), the world's leading derivatives and securities exchange network, today announced the promotion of Jill Griebenow to Executive Vice President, Chief Financial Officer and Treasurer, replacing Brian Schell who will be departing the company to pursue a new professional opportunity outside of the exchange industry. Griebenow will assume the new role beginning July 10, 2023, after working alongside Schell for the past 12 years.
/jlne.ws/3O5PsPj
| | | | | | Strategy | | | Premium to Cash
Cboe (Video)
In #Vol411, Dan Deming @Djd551 highlights key action in the $VIX #futures roll market, large #VIX #options trades and looks ahead to next week's economic data drops.
/jlne.ws/3NG7uWH
| | | | | | Miscellaneous | | | He's Warren Buffett's second in command. These are his biggest 3 stock holdings
Andrew Shilling - MarketWatch
Charlie Munger, the 99-year-old vice chairman of Berkshire Hathaway and Warren Buffett's second-in-command, has built quite the empire for himself, growing his assets to an estimated net worth of around $2.4 billion, according to Forbes' latest figures. Munger's strategy of seeking success in concentrated groupings of stocks he feels will achieve gains over the long-term has served him quite well. But for anyone expecting perpetual gains despite the odds, even Munger's portfolio has shown signs of cracks.
/jlne.ws/44ui7CO
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