Quadruple witching typically brings volatility in its aftermath as positions are unwound. Ahead of the Federal Reserve meeting last week, we called for this date to bring a cleansing.
U.S. equity benchmarks shook off a brief bat with reinvigorated volatility yesterday morning. After a blowout MoM May Retail Sales read, price action in the S&P 500 surged to its high of the session (YoY was -6.1%)
Corn futures caught a bid in the back half of last week’s trade but remain mostly range-bound while Soybean futures had their highest close since late March.
U.S. equity benchmarks opened sharply lower Sunday night and the weakness continued into Europe’s open after a slew of weaker than expected economic data from China.
