Most CME asset class vols squashed again. There seems no end in sight to the continual drip of volatility from equities, rates, and commodities. The one outlier was FX (G7) volatility, which was basically steady on the day. What stands out: Equity term-structure steepens as short-dated vol gets hammered. Skew is soft.
Japanese stocks turned negative on Friday and the yen reversed early losses, keeping intact worries that the Nikkei's …