Stocks Surging into Final Hour on Central Bank Hopes, Euro/Oil Bounce, Short-Covering, Metals & Mining/Energy Sector Strength
Broad Equity Market Tone:
- Advance/Decline Line: Modestly Higher
- Sector Performance: Most Sectors Rising
- Market Leading Stocks: Underperforming
Equity Investor Angst:
- Volatility(VIX) 14.46 -1.43%
- Euro/Yen Carry Return Index 136.82 +.33%
- Emerging Markets Currency Volatility(VXY) 9.85 -2.48%
- S&P 500 Implied Correlation 63.07 -1.65%
- ISE Sentiment Index 112.0 +64.71%
- Total Put/Call .88 -21.43%
Credit Investor Angst:
- North American Investment Grade CDS Index 61.41 -2.37%
- America Energy Sector High-Yield CDS Index 1,112.0 -.54%
- European Financial Sector CDS Index 68.43 n/a
- Western Europe Sovereign Debt CDS Index 22.34 -.53%
- Asia Pacific Sovereign Debt CDS Index 58.21 -.63%
- Emerging Market CDS Index 298.57 -4.0%
- iBoxx Offshore RMB China Corporates High Yield Index 114.67 +.06%
- 2-Year Swap Spread 26.25 unch.
- TED Spread 26.25 +1.25 basis points
- 3-Month EUR/USD Cross-Currency Basis Swap -22.75 +.5 basis point
Economic Gauges:
- 3-Month T-Bill Yield .01% unch.
- Yield Curve 141.0 +4.0 basis points
- China Import Iron Ore Spot $47.08/Metric Tonne n/a
- Citi US Economic Surprise Index -56.5 -9.2 points
- Citi Eurozone Economic Surprise Index 63.70 +.6 point
- Citi Emerging Markets Economic Surprise Index 4.5 -.4 point
- 10-Year TIPS Spread 1.85 +4.0 basis points
Overseas Futures:
- Nikkei Futures: Indicating +219 open in Japan
- DAX Futures: Indicating +12 open in Germany
Portfolio:
- Slightly Higher: On gains in my medical/retail/tech sector longs
- Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges
- Market Exposure: Moved to 75% Net Long
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