Stocks Slightly Lower into Final Hour on Escalating Russia/Ukraine Tensions, Global Growth Fears, Technical Selling, Transport/Financial Sector Weakness
Broad Equity Market Tone:
- Advance/Decline Line: Lower
- Sector Performance: Mixed
- Market Leading Stocks: Performing In Line
Equity Investor Angst:
- Volatility(VIX) 13.09 +3.31%
- Euro/Yen Carry Return Index 150.31 +.91%
- Emerging Markets Currency Volatility(VXY) 8.14 -.37%
- S&P 500 Implied Correlation 42.38 +7.15%
- ISE Sentiment Index 67.0 -22.99%
- Total Put/Call .97 -9.35%
Credit Investor Angst:
- North American Investment Grade CDS Index 64.14 -.56%
- European Financial Sector CDS Index 64.0 -.62%
- Western Europe Sovereign Debt CDS Index 30.62 -3.13%
- Asia Pacific Sovereign Debt CDS Index 64.24 -.16%
- Emerging Market CDS Index 271.88 +.09%
- China Blended Corporate Spread Index 323.55 n/a
- 2-Year Swap Spread 21.25 unch.
- TED Spread 21.75 +.5 basis point
- 3-Month EUR/USD Cross-Currency Basis Swap -9.75 +.75 basis point
Economic Gauges:
- 3-Month T-Bill Yield .02% unch.
- China Import Iron Ore Spot $75.87/Metric Tonne +.09%
- Citi US Economic Surprise Index 15.80 +.2 point
- Citi Eurozone Economic Surprise Index -30.20 +.5 point
- Citi Emerging Markets Economic Surprise Index -11.50 -1.4 points
- 10-Year TIPS Spread 1.94 unch.
Overseas Futures:
- Nikkei Futures: Indicating +110 open in Japan
- DAX Futures: Indicating -15 open in Germany
Portfolio:
- Slightly Lower: On losses in my retail/tech sector longs and emerging markets shorts
- Disclosed Trades: Added to my (IWM)/(QQQ) hedges
- Market Exposure: Moved to 25% Net Long
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