3 Actionable Takeaways
Elevated short-term volatility indicators suggest significant underlying market stress despite moderate index moves.
Credit spreads are widening across both U.S. and European markets, pointing to increasing liquidity concerns.
Persistent anomalies in SOFR and Fed Funds rates may signal mechanical pressures or tightening financial conditions ahead.
Markets saw dramatic intraday swings on OpEx day, driven by unclear catalysts and marked by elevated volatility levels that don’t align with surface-level price action. Liquidity stress, widening credit