Wednesday, April 29, 2015

Stocks Lower into Final Hour on Rising European Debt Angst, Global Growth Fears, Earnings Worries, Healthcare/Gaming Sector Weakness

Broad Equity Market Tone:
  • Advance/Decline Line: Lower
  • Sector Performance: Mixed
  • Volume: Slightly Below Average
  • Market Leading Stocks: Performing In Line
Equity Investor Angst:
  • Volatility(VIX) 12.93 +4.19%
  • Euro/Yen Carry Return Index 138.0 +1.20%
  • Emerging Markets Currency Volatility(VXY) 9.91 -.60%
  • S&P 500 Implied Correlation 66.19 -1.68%
  • ISE Sentiment Index 84.0 -26.96%
  • Total Put/Call .95 +4.40%
  • NYSE Arms .62 -36.45% 
Credit Investor Angst:
  • North American Investment Grade CDS Index 62.31 +1.72%
  • America Energy Sector High-Yield CDS Index 1,071.0 +1.0%
  • European Financial Sector CDS Index 72.03 +2.06%
  • Western Europe Sovereign Debt CDS Index 25.50 +.73%
  • Asia Pacific Sovereign Debt CDS Index 60.21 +.84%
  • Emerging Market CDS Index 295.0 +.34%
  • iBoxx Offshore RMB China Corporates High Yield Index 117.77 +.04%
  • 2-Year Swap Spread 23.75 unch.
  • TED Spread 26.75 +.25 basis point
  • 3-Month EUR/USD Cross-Currency Basis Swap -19.75 +.25 basis point
Economic Gauges:
  • 3-Month T-Bill Yield .00% -1.0 basis point
  • Yield Curve 148.0 +5.0 basis points
  • China Import Iron Ore Spot $57.13/Metric Tonne -4.59%
  • Citi US Economic Surprise Index -66.80 -8.3 points
  • Citi Eurozone Economic Surprise Index 17.20 +1.0 point
  • Citi Emerging Markets Economic Surprise Index -16.5 -.9 point
  • 10-Year TIPS Spread 1.92 +2.0 basis points
Overseas Futures:
  • Nikkei Futures: Indicating -244 open in Japan
  • DAX Futures: Indicating +68 open in Germany
Portfolio: 
  • Higher: On gains in my biotech sector longs, index hedges and emerging market shorts 
  • Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges
  • Market Exposure: Moved to 50% Net Long

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