CME: Energy and interest rate volatility exacerbate global monetary policy uncertainty.

CoinFeed reported on April 29th that, according to CME Group, recent sharp fluctuations in assets such as crude oil, US Treasury bonds, the US dollar, and gold constitute a typical cross-asset "contagion" pattern. The CME CVOL index shows a significant increase in the 30-day implied volatility of crude oil and US Treasury bonds. The convexity of US Treasury bonds has been rising continuously since the end of 2025, reaching a high in mid-March, reflecting significant market uncertainty regarding both renewed inflation and a weakening economy. Rising energy prices have increased fuel, transportation, and fertilizer costs, making it more difficult for the Federal Reserve to choose between combating inflation and balancing economic slowdown. Meanwhile, gold prices, despite falling by about 14% from late February to late March amidst tensions in the Middle East, have seen increased volatility and demand for put options, indicating that even traditional safe-haven assets are under pressure.