VIX Ends Week at 14.84; 10-Year Yield at 5.24%, HY Spread 3.11%

The VIX closed the week at 14.84 on Friday, Oct. 9, according to FRED. The 10-year Treasury yield stood at 5.24% and the 2-year at 4.80%, leaving the 10-year/2-year spread at 0.44 percentage point, or 44 basis points. The effective federal funds rate was 3.88%.

Credit spreads were steady in level terms, with the high-yield option-adjusted spread at 3.11%. CNBC published a piece headlined “Junk bonds are 'flashing yellow.' Watch these warning signs.” The Wall Street Journal reported “As Yields Surged, Small-Cap Stocks Were Hit Hard.”

In currencies, the Fed's broad dollar index was 121.60, and the UUP dollar fund rose 0.14% to 29.02. Gold futures rose 1.43% to $4,216.30, and WTI crude futures gained 0.39% to $91.85, while FRED's WTI spot price stood at $98.73.

The day's U.S. calendar consisted mainly of weekly positioning and rig-count data. Weekly CFTC positioning data showed speculative net positions in S&P 500 futures at -154.1 thousand contracts, compared with -142.5 thousand the prior week. Nasdaq 100 net positions rose to 58.1 thousand from 51.2 thousand. Gold net positions fell to 210.3 thousand from 218.6 thousand, and crude oil net positions declined to 99.1 thousand from 109.5 thousand.

The Baker Hughes oil rig count rose to 462 from 456. Looking at the broader market, SPY gained 0.60% and DIA rose 0.87% on the day. CNBC's “Cramer's week ahead: Earnings kick off as banks and chipmakers face big tests” previewed the next week's corporate calendar.

Data

Data: FMP, FRED. Figures are close-to-close unless stated.

In the news

• CNBC: Junk bonds are 'flashing yellow.' Watch these warning signs
• WSJ: As Yields Surged, Small-Cap Stocks Were Hit Hard
• CNBC: Cramer's week ahead: Earnings kick off as banks and chipmakers face big tests