Tuesday, April 28, 2015

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
  • Volume: Around Average
  • 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.
  • Total Put/Call .88 unch.
  • NYSE Arms .85 -8.94% 
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
  • TED Spread 26.5 unch.
  • 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 
  • Disclosed Trades: None
  • Market Exposure: 50% Net Long

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