Tuesday, September 06, 2016

Stocks Higher into Final Hour on Falling Fed Rate-Hike Odds, Buyout Speculation, Oil Bounce, Utility/Metals & Mining Sector Strength

Broad Equity Market Tone:
  • Advance/Decline Line: Slightly Higher
  • Sector Performance: Mixed
  • Volume: Below Average
  • Market Leading Stocks: Performing In Line
Equity Investor Angst:
  • Volatility(VIX) 12.21 +1.92%
  • Euro/Yen Carry Return Index 119.99 -.39%
  • Emerging Markets Currency Volatility(VXY) 9.53 -2.06%
  • S&P 500 Implied Correlation 44.01 -.97%
  • ISE Sentiment Index 113.0 +39.51%
  • Total Put/Call .85 -10.53%
  • NYSE Arms .70 -5.93
Credit Investor Angst:
  • North American Investment Grade CDS Index 71.60 -.79%
  • America Energy Sector High-Yield CDS Index 681.0 -.68%
  • European Financial Sector CDS Index 84.44 -1.04%
  • Western Europe Sovereign Debt CDS Index 24.48 -.47%
  • Asia Pacific Sovereign Debt CDS Index 37.20 -.92%
  • Emerging Market CDS Index 236.50 -2.38%
  • iBoxx Offshore RMB China Corporate High Yield Index 131.63 +.02%
  • 2-Year Swap Spread 25.0 +.25 basis point
  • TED Spread 51.5 -.25 basis point
  • 3-Month EUR/USD Cross-Currency Basis Swap -34.5 +4.75 basis points
Economic Gauges:
  • Bloomberg Emerging Markets Currency Index 73.34 +1.11%
  • 3-Month T-Bill Yield .31% -1.0 basis point
  • Yield Curve 81.0 +2.0 basis points
  • China Import Iron Ore Spot $59.16/Metric Tonne -.14%
  • Citi US Economic Surprise Index -7.0 -7.0 points
  • Citi Eurozone Economic Surprise Index -8.6 -1.3 points
  • Citi Emerging Markets Economic Surprise Index -7.2 -2.3 points
  • 10-Year TIPS Spread 1.50% +4.0 basis points
  • 27.3% chance of Fed rate hike at Nov. 2 meeting, 51.8% chance at Dec. 14 meeting
Overseas Futures:
  • Nikkei 225 Futures: Indicating -197 open in Japan 
  • China A50 Futures: Indicating +32 open in China
  • DAX Futures: Indicating +2 open in Germany
Portfolio: 
  • Slightly Higher: On gains in my tech/biotech sector longs
  • Disclosed Trades: None
  • Market Exposure: 50% Net Long

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