Ooki Market Watch for May 11th, 2022
Market News

Ooki Market Watch for May 11th, 2022

Community Contributor
Community Contributor

Market volatility increases. Below are a few of the highlights to help you stay up to date.

CPI increased 8.3% YoY

Another red-hot CPI Inflation number at 8.3%, worse than expected and sends Real Wages lower for a 7th straight month.

VIX increases to 34

VIX is a measure of the stock market's expectation of volatility based on S&P 500 index options. It reached a monthly high of 34 this week.

UST Depegging

UST broke it's peg, contributing to a large weekend sell off on low volume. The Curve UST/3crv pool became imbalanced. LUNA sold off as the Terra Foundation sought emergency funding in an attempt to backstop the peg. There was some speculation on crypto twitter relating to the cause of this sudden imbalance in the pool:

FOMC Rally then Selloff

The Federal Reserve held it's monthly FOMC last week and the market rallied during the speech on news that the Fed Chair Powell would be ruling out a 75 basis point rate hike. However, the following day, the markets sold off and ended the week near the lows with continued selling into the weekend.

Upcoming Market Events scheduled this week

  • USD Wholesale inventories - May 9th at 2pm EST.
  • Fed Chair Williams Speech - May 10th at 11:40am EST.
  • US Consumer Price Index for April (YoY) - May 11th at 12:30pm EST.
  • US Jobless Claims and Producer Price Index April (YoY) - 12:30pm EST

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