The CME housing futures moved slightly higher, and bid/offered spreads widened after this morning’s Case Shiller numbers were released. Four contracts traded (bringing the MTD total to 12). All trades were on calendar spread orders in the CHI and SDG regions.
The table to the right shows the historical indices … Read More
In academics, it’s often taught that home prices should in the long run move in line with rents. After all (it is argued) home purchase may be viewed as akin to prepaid rent. Multiple websites (including this CNN Money page) highlight current and historical price/rent ratios. The popular “rules” … Read More
I’ve finally been able to post a recap of activity in the CME Case Shiller (home price index) Futures here. (I’ve had challenges at the server level, on the trade-entry platform, and with juggling work that have all contributed to the delay. My apologies.)
Net, trading slowed (to ten … Read More
The July release of the Case Shiller numbers for May were slightly lower than “suggested” by quotes in the Aug 2014 contracts from the day before. As such, CME quotes fell (but bid/ask spreads were much tighter) by the end of the day in all but one contract (LAV).
There … Read More
The complacency of prices in the CME contracts got a mild shock yesterday with the June release of the April Case Shiller indices. Prior to Tuesday there had been no trades in June (that I was aware of) and very few meaningful price changes. That changed when the S&P announcement … Read More
With the release of the April Case Shiller #’s almost upon us (Tuesday April 29th), with the increasingly bearish tilt in some housing forecasts, and with the (OK a personal) perspective of having snow in my yard in both October and April this year, I thought that it might be … Read More
With the February release of the Case Shiller #’s for December 2013 only a few days away (Tues. 2/25 8:15 AM Chicago) I thought that it might be a good time to review quotes for the expiring Feb ’14 (G14) contract. Recall that the settlement prices for the G14 contracts … Read More
I posted a recap of activity in the CME Case Shiller (home price index) Futures for the month of January to the Reports section (or you can click here).
The highlights of the month include:
- Increase in volume (albeit only from 8 to 15)
- Modest increase in OI
… Read More
Bid/ask spreads widened across many regions and expirations after the release of the Case Shiller #’s this morning. The attached table shows the history of the CS indices over recent history, the CME markets for the front G14 (Feb 2014) contract during late Monday, the actual CS #’s that were … Read More
I’ve posted delayed prices for the CME Case Shiller futures from earlier in the day in the Reports section (here) to give traders a reference point of where markets where before tomorrow morning’s release of the November Case Shiller indices.
Bid/ask spreads compressed during the month for every … Read More