Newsletter summary
The Federal Reserve meeting in May hinted that it would not raise interest rates any time soon.Pennslammeriii3500European stock markets rose and Chinese assets became more attractive. The turnover of financial options increased and hidden waves remained low; in terms of commodity options, copper options showed volatility, while PTA options maintained a low-wave volatility trend.
Text of news flash
The Federal Reserve's decision to keep interest rates unchanged at its May meeting sent a signal that it would not raise interest rates in the short term, triggering a rally in stock markets in Europe and the United States, lower VIX volatility and lower market expectations of risk. At the same time, the meeting of the political Bureau of the CPC Central Committee positioned the real estate industry as a heavy positive, foreign investment accelerated to return to the A-share and Hong Kong stock markets, and China's asset market showed the attraction of a value depression. In addition, the import and export data show signs of a pick-up in trade, while the index hit a new high in nearly half a year after facing a large short-term selling pressure, the existence of resistance above, is expected to be a shock recuperation market.
In the field of financial options, the trading volume increased month-on-month, the transaction PCR value decreased, the implied volatility of Shanghai 50 and Shanghai-Shenzhen 300 series options remained low, and the difference of implied volatility between HO options and MO options narrowed to 8.Pennslammeriii3500.7 percentage points. At the same time, the option skewness index remained stable, and the trading volume of call options and market sentiment rebounded slightly, but the resistance above the underlying index was larger, the implied volatility decreased, and the expectation of market volatility increased.
In terms of commodity options, the trading volume and PCR value of copper options rebounded, and the upper resistance level appeared, but the implied volatility decreased, suggesting that the previous long market had turned into a high shock market. The PTA option transaction PCR value rose, and the implied volatility remained at a historical low, indicating that the PTA market may maintain a low volatility trend; the implied volatility of gold options fell sharply in a row, the PCR value fell back, and the market turned to shock and falling trend. Soybean meal options hidden wave stagflation, trading volume decreased month-on-month.