Todays 

Upgrades

• Fevertree Drinks (FQVTF) upgraded by RBC Capital from Underperform to Sector Perform
• Micron (MU) upgraded by Deutsche Bank from Hold to Buy
• Azul (AZUL) upgraded by JPMorgan from Neutral to Overweight
• China Resources Gas (CGASY) upgraded by JPMorgan from Neutral to Overweight
• Skechers (SKX) upgraded by Piper Sandler from Neutral…

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CPI was a little hotter than expected, but not enough to alter expectations that the FOMC will skip hiking rates at its meeting next Wednesday. And the report did not change views that the door is open for a tightening in November, but is still not any more than a 50-50 bet. Treasuries went into the CPI data priced for upside risks and… Read more

The CBOE Volatility Index (VIX), the SPX option derived measure of implied volatility, lifted 0.19 today to close at 14.01, while the underlying SPX index lost 18.94 to close at $4496.83, a 0.42% decline. 486,016 VIX option contracts traded, 71.54% of the typical daily volume for the product. Calls made up 62.9% of the volume.

Treasury Market Summary: Treasuries spent the session underwater and losses mounted through the afternoon. A hefty corporate slate to kick off the first week of September and a jump in oil prices were the general culprits for the selloff. More evidence of the economy’s resilience via the factory data also weighed. Comments from the Fed hawk… Read more