Tuesday, December 02, 2014

Stocks Higher into Final Hour on Central Bank Hopes, Seasonal Strength, Yen Weakness, Biotech/Energy Sector Strength

Broad Equity Market Tone:
  • Advance/Decline Line: Higher
  • Sector Performance: Most Sectors Rising
  • Volume: Below Average
  • Market Leading Stocks: Underperforming
Equity Investor Angst:
  • Volatility(VIX) 12.93 -9.45%
  • Euro/Yen Carry Return Index 154.15 -.04%
  • Emerging Markets Currency Volatility(VXY) 8.52 +2.53%
  • S&P 500 Implied Correlation 67.29 -.53%
  • ISE Sentiment Index 121.0 +35.96%
  • Total Put/Call 1.16 +19.59%
  • NYSE Arms 1.55 +60.57% 
Credit Investor Angst:
  • North American Investment Grade CDS Index 62.0 -1.31%
  • European Financial Sector CDS Index 58.92 -1.03%
  • Western Europe Sovereign Debt CDS Index 28.33 -.21%
  • Asia Pacific Sovereign Debt CDS Index 62.51 -2.75%
  • Emerging Market CDS Index 293.80 +2.05%
  • China Blended Corporate Spread Index 328.11 -.20%
  • 2-Year Swap Spread 20.25 -.25 basis point
  • TED Spread 21.75 -1.0 basis point
  • 3-Month EUR/USD Cross-Currency Basis Swap -12.75 -1.0 basis point
Economic Gauges:
  • 3-Month T-Bill Yield .01% unch.
  • Yield Curve 175.0 +2.0 basis points
  • China Import Iron Ore Spot $70.67/Metric Tonne -.62%
  • Citi US Economic Surprise Index 7.90 +.1 point
  • Citi Eurozone Economic Surprise Index -21.60 -.8 point
  • Citi Emerging Markets Economic Surprise Index -4.7 -2.0 points
  • 10-Year TIPS Spread 1.79 -2.0 basis points
Overseas Futures:
  • Nikkei Futures: Indicating +115 open in Japan
  • DAX Futures: Indicating +34 open in Germany
Portfolio: 
  • Slightly Higher: On gains in my biotech/medical sector longs
  • Disclosed Trades: None
  • Market Exposure: 50% Net Long

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