Stocks Slightly Higher into Final Hour on Less Eurozone/Emerging Markets Debt Angst, Central Bank Hopes, Euro Strength, Healthcare/Gaming Sector Strength
Broad Equity Market Tone:
- Advance/Decline Line: Modestly Higher
- Sector Performance: Mixed
- Market Leading Stocks: Performing In Line
Equity Investor Angst:
- Volatility(VIX) 12.95 -1.30%
- Euro/Yen Carry Return Index 136.31 +.70%
- Emerging Markets Currency Volatility(VXY) 9.86 -1.0%
- S&P 500 Implied Correlation 67.75 -.07%
- ISE Sentiment Index 115.0 unch.
Credit Investor Angst:
- North American Investment Grade CDS Index 61.33 +.17%
- America Energy Sector High-Yield CDS Index 1,059.0 +.19%
- European Financial Sector CDS Index 70.57 -.10%
- Western Europe Sovereign Debt CDS Index 25.31 -4.85%
- Asia Pacific Sovereign Debt CDS Index 59.72 -.66%
- Emerging Market CDS Index 294.19 -.46%
- iBoxx Offshore RMB China Corporates High Yield Index 117.73 +.12%
- 2-Year Swap Spread 23.75 -2.0 basis points
- 3-Month EUR/USD Cross-Currency Basis Swap -20.0 -.25 basis point
Economic Gauges:
- 3-Month T-Bill Yield .01% unch.
- Yield Curve 143.0 +3.0 basis points
- China Import Iron Ore Spot $59.88/Metric Tonne +1.34%
- Citi US Economic Surprise Index -58.50 -2.5 points
- Citi Eurozone Economic Surprise Index 16.20 -1.2 points
- Citi Emerging Markets Economic Surprise Index -15.6 -1.5 points
- 10-Year TIPS Spread 1.90 unch.
Overseas Futures:
- Nikkei Futures: Indicating -89 open in Japan
- DAX Futures: Indicating +9 open in Germany
Portfolio:
- Slightly Lower: On losses in my biotech/retail sector longs
- Market Exposure: 50% Net Long
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