Tuesday, February 18, 2014

Stocks Rising Slightly into Final Hour on Yen Weakness, Lower Long-Term Rates, Biotech/Energy Sector Strength

Broad Equity Market Tone:
  • Advance/Decline Line: Higher
  • Sector Performance: Most Sectors Rising
  • Volume: Below Average
  • Market Leading Stocks: Performing In Line
Equity Investor Angst:
  • Volatility(VIX) 13.87 +2.21%
  • Euro/Yen Carry Return Index 146.85 +.77%
  • Emerging Markets Currency Volatility(VXY) 8.63 -.46%
  • S&P 500 Implied Correlation 51.58 +1.54%
  • ISE Sentiment Index 100.0 +4.17%
  • Total Put/Call .75 -8.54%
  • NYSE Arms 1.48 +47.32% 
Credit Investor Angst:
  • North American Investment Grade CDS Index 63.91 +.17%
  • European Financial Sector CDS Index 88.20 +.40%
  • Western Europe Sovereign Debt CDS Index 52.0 -1.89%
  • Asia Pacific Sovereign Debt CDS Index 101.83 +.10%
  • Emerging Market CDS Index 332.99 +1.10%
  • China Blended Corporate Spread Index 355.37 +.26%
  • 2-Year Swap Spread 13.25 unch.
  • TED Spread 22.0 -.5 basis point
  • 3-Month EUR/USD Cross-Currency Basis Swap -4.75 +.5 basis point
Economic Gauges:
  • 3-Month T-Bill Yield .02% +1.0 basis point
  • Yield Curve 241.0 -2.0 basis points
  • China Import Iron Ore Spot $124.40/Metric Tonne unch.
  • Citi US Economic Surprise Index 0.0 -17.6 points
  • Citi Emerging Markets Economic Surprise Index 20.20 +.1 point
  • 10-Year TIPS Spread 2.16 -1.0 basis point
Overseas Futures:
  • Nikkei Futures: Indicating -18 open in Japan
  • DAX Futures: Indicating -4 open in Germany
Portfolio: 
  • Higher: On gains in my biotech/medical/tech sector longs and emerging markets shorts
  • Disclosed Trades: None
  • Market Exposure: 50% Net Long

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