Monday, August 22, 2016

Stocks Slightly Lower into Final Hour on Diminished Central Bank Hopes, Global Growth Fears, Oil Decline, Metals & Mining/Energy Sector Weakness

Broad Equity Market Tone:
  • Advance/Decline Line: About Even
  • Sector Performance: Mixed
  • Volume: Light
  • Market Leading Stocks: Performing In Line
Equity Investor Angst:
  • Volatility(VIX) 12.44 +9.61%
  • Euro/Yen Carry Return Index 118.59 +.07%
  • Emerging Markets Currency Volatility(VXY) 10.09 +1.51%
  • S&P 500 Implied Correlation 44.40 +4.39%
  • ISE Sentiment Index 100.0 +1.01%
  • Total Put/Call .95 +14.46%
  • NYSE Arms 1.79 +90.34
Credit Investor Angst:
  • North American Investment Grade CDS Index 71.59 +1.35%
  • America Energy Sector High-Yield CDS Index 683.0 +.07%
  • European Financial Sector CDS Index 93.21 +.38%
  • Western Europe Sovereign Debt CDS Index 25.14 +1.60%
  • Asia Pacific Sovereign Debt CDS Index 42.54 -1.32%
  • Emerging Market CDS Index 241.87 +.30%
  • iBoxx Offshore RMB China Corporate High Yield Index 131.65 +.19%
  • 2-Year Swap Spread 25.5 -2.25 basis points
  • TED Spread 52.25 +.5 basis point
  • 3-Month EUR/USD Cross-Currency Basis Swap -36.5 +.25 basis point
Economic Gauges:
  • Bloomberg Emerging Markets Currency Index 73.36 -.43%
  • 3-Month T-Bill Yield .29% -1.0 basis point 
  • Yield Curve 81.0 -2.0 basis points
  • China Import Iron Ore Spot $61.23/Metric Tonne +.46%
  • Citi US Economic Surprise Index 1.9 -2.7 points
  • Citi Eurozone Economic Surprise Index 27.4 -.2 point
  • Citi Emerging Markets Economic Surprise Index -1.2 +.6 point
  • 10-Year TIPS Spread 1.48% -2.0 basis points
  • 30.8% chance of Fed rate hike at Nov. 2 meeting, 51.2% chance at Dec. 14 meeting
Overseas Futures:
  • Nikkei 225 Futures: Indicating -58 open in Japan 
  • China A50 Futures: Indicating n/a open in China
  • DAX Futures: Indicating +7 open in Germany
Portfolio: 
  • Higher: On gains in my medical/biotech sector longs and emerging markets shorts
  • Disclosed Trades: None
  • Market Exposure: 50% Net Long

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