OANDA:SPX500USD   S&P 500 Index
Good morning!

Futures were pushing through 4300 overnight and thus implied dealer gamma increased by 118MM to -516MM, which should inject some much needed liquidity back into the markets.

The VIX , another measure of liquidity, dropped below 30 points to the lowest level since the end of February.

Future markets meanwhile imply a slightly steeper rate path again, but the probability for a 50 bps hike today remains nil.


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