Wednesday, September 07, 2016

Stocks Slightly Lower into Final Hour on Global Growth Fears, Yen Strength, US High-Yield Debt Angst, Food/Semi Sector Weakness

Broad Equity Market Tone:
  • Advance/Decline Line: Higher
  • Sector Performance: Mixed
  • Volume: Below Average
  • Market Leading Stocks: Performing In Line
Equity Investor Angst:
  • Volatility(VIX) 11.99 -.25%
  • Euro/Yen Carry Return Index 119.51 -.38%
  • Emerging Markets Currency Volatility(VXY) 9.53 -.21%
  • S&P 500 Implied Correlation 42.01 -.64%
  • ISE Sentiment Index 107.0 +2.88%
  • Total Put/Call .90 +4.65%
  • NYSE Arms 1.33 +75.21
Credit Investor Angst:
  • North American Investment Grade CDS Index 71.82 +1.0%
  • America Energy Sector High-Yield CDS Index 676.0 -1.62%
  • European Financial Sector CDS Index 83.30 -1.34%
  • Western Europe Sovereign Debt CDS Index 24.51 +.14%
  • Asia Pacific Sovereign Debt CDS Index 35.46 -4.70%
  • Emerging Market CDS Index 231.55 -1.88%
  • iBoxx Offshore RMB China Corporate High Yield Index 131.64 +.01%
  • 2-Year Swap Spread 25.25 +.25 basis point
  • TED Spread 50.25 -1.25 basis points
  • 3-Month EUR/USD Cross-Currency Basis Swap -32.25 +2.25 basis points
Economic Gauges:
  • Bloomberg Emerging Markets Currency Index 73.38 +.06%
  • 3-Month T-Bill Yield .34% +3.0 basis points
  • Yield Curve 80.0 -1.0 basis point
  • China Import Iron Ore Spot $58.46/Metric Tonne -1.18%
  • Citi US Economic Surprise Index -5.7 +1.3 points
  • Citi Eurozone Economic Surprise Index -13.9 -5.3 points
  • Citi Emerging Markets Economic Surprise Index -7.5 -.3 point
  • 10-Year TIPS Spread 1.51% +1.0 basis point
  • 27.0% chance of Fed rate hike at Nov. 2 meeting, 51.5% chance at Dec. 14 meeting
Overseas Futures:
  • Nikkei 225 Futures: Indicating -82 open in Japan 
  • China A50 Futures: Indicating -6 open in China
  • DAX Futures: Indicating -8 open in Germany
Portfolio: 
  • Higher: On gains in my tech/biotech/retail sector longs
  • Disclosed Trades: None
  • Market Exposure: 50% Net Long

No comments: