Stocks Falling into Final Hour on Fed Rate Hike Fears, Global Growth Worries, Yen Strength, Tech/Gaming Sector Weakness
Broad Equity Market Tone:
- Advance/Decline Line: Lower
- Sector Performance: Almost Every Sector Declining
- Volume: Slightly Above Average
- Market Leading Stocks: Performing In Line
Equity Investor Angst:
- Volatility(VIX) 16.30 +13.91%
- Euro/Yen Carry Return Index 141.50 +1.02%
- Emerging Markets Currency Volatility(VXY) 10.43 +.29%
- S&P 500 Implied Correlation 67.57 -.47%
- ISE Sentiment Index 66.0 -49.23%
- Total Put/Call 1.03 -15.57%
Credit Investor Angst:
- North American Investment Grade CDS Index 65.57 +2.71%
- America Energy Sector High-Yield CDS Index 1,076.0 -.31%
- European Financial Sector CDS Index 75.27 +1.50%
- Western Europe Sovereign Debt CDS Index 24.97 -.40%
- Asia Pacific Sovereign Debt CDS Index 59.80 -1.0%
- Emerging Market CDS Index 296.23 -.96%
- iBoxx Offshore RMB China Corporates High Yield Index 118.14 +.07%
- 2-Year Swap Spread 25.75 -.25 basis point
- TED Spread 27.50 +1.0 basis point
- 3-Month EUR/USD Cross-Currency Basis Swap -21.0 -.5 basis point
Economic Gauges:
- 3-Month T-Bill Yield .01% unch.
- Yield Curve 160.0 +5.0 basis points
- China Import Iron Ore Spot $60.89/Metric Tonne +3.73%
- Citi US Economic Surprise Index -67.30 -2.0 points
- Citi Eurozone Economic Surprise Index 19.0 +13.8 points
- Citi Emerging Markets Economic Surprise Index -18.0 +.1 point
- 10-Year TIPS Spread 1.91 -2.0 basis points
Overseas Futures:
- Nikkei Futures: Indicating -278 open in Japan
- DAX Futures: Indicating -27 open in Germany
Portfolio:
- Slightly Higher: On gains in my index hedges and emerging markets shorts
- Market Exposure: 25% Net Long
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