Tuesday, July 22, 2014

Stocks Higher into Final Hour on Earnings Optimism, Less European/Emerging Markets Debt Agnst, Short-Covering, Gaming/Homebuilding 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) 12.04 -6.01%
  • Euro/Yen Carry Return Index 142.65 -.35%
  • Emerging Markets Currency Volatility(VXY) 5.86 -.51%
  • S&P 500 Implied Correlation 51.75 -.71%
  • ISE Sentiment Index 154.0 +63.8%
  • Total Put/Call .91 +1.11%
  • NYSE Arms 1.05 +16.26% 
Credit Investor Angst:
  • North American Investment Grade CDS Index 58.54 -1.60%
  • European Financial Sector CDS Index 67.48 -4.69%
  • Western Europe Sovereign Debt CDS Index 34.87 -1.66%
  • Asia Pacific Sovereign Debt CDS Index 71.45 -1.41%
  • Emerging Market CDS Index 241.0 -1.50%
  • China Blended Corporate Spread Index 306.45 +.10%
  • 2-Year Swap Spread 20.0 unch.
  • TED Spread 21.25 -.5 basis point
  • 3-Month EUR/USD Cross-Currency Basis Swap -8.75 +1.25 basis points
Economic Gauges:
  • 3-Month T-Bill Yield .02% unch.
  • Yield Curve 199.0 +1.0 basis point
  • China Import Iron Ore Spot $95.40/Metric Tonne -.62%
  • Citi US Economic Surprise Index -23.40 -5.4 points
  • Citi Emerging Markets Economic Surprise Index -4.30 +.5 point
  • 10-Year TIPS Spread 2.22 unch.
Overseas Futures:
  • Nikkei Futures: Indicating +43 open in Japan
  • DAX Futures: Indicating -9 open in Germany
Portfolio: 
  • Higher: On gains in my tech/biotech/medical sector longs
  • Disclosed Trades: None
  • Market Exposure: 50% Net Long

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