Tuesday, February 12, 2013

Stocks Slightly Higher into Afternoon on Less Eurozone Debt Angst, Short-Covering, Homebuilding/Financial Sector Strength

Broad Market Tone:
  • Advance/Decline Line: Modestly Higher
  • Sector Performance: Most Sectors Rising
  • Volume: Light
  • Market Leading Stocks: Underperforming
Equity Investor Angst:
  • VIX 12.81 -1.0%
  • ISE Sentiment Index 99.0 -2.9%
  • Total Put/Call .99 -6.6%
  • NYSE Arms .79 -8.83%
Credit Investor Angst:
  • North American Investment Grade CDS Index 87.30 -2.42%
  • European Financial Sector CDS Index 149.44 -4.65%
  • Western Europe Sovereign Debt CDS Index 103.10 -1.75%
  • Emerging Market CDS Index 230.35 +1.78%
  • 2-Year Swap Spread 15.75 -.25 bp
  • TED Spread 21.0 -1.75 bps
  • 3-Month EUR/USD Cross-Currency Basis Swap -17.0 +1.0 bp
Economic Gauges:
  • 3-Month T-Bill Yield .08% +2 bps
  • Yield Curve 172.0 +2 bps
  • China Import Iron Ore Spot $155.10/Metric Tonne n/a
  • Citi US Economic Surprise Index -9.0 +1.0 point
  • 10-Year TIPS Spread 2.56 +2 bps
Overseas Futures:
  • Nikkei Futures: Indicating +27 open in Japan
  • DAX Futures: Indicating +1 open in Germany
Portfolio:
  • Slightly Lower: On losses in my biotech/tech sector longs and index hedges
  • Disclosed Trades: None
  • Market Exposure: 50% Net Long

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