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.
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.