Thursday, November 17, 2016

Stocks Rising into Final Hour on Economic Optimism, Yen Weakness, Technical Buying, Financial/Homebuilding Sector Strength

Broad Equity Market Tone:
  • Advance/Decline Line: Higher
  • Sector Performance: Most Sectors Rising
  • Volume: Slightly Above Average
  • Market Leading Stocks: Outperforming
Equity Investor Angst:
  • Volatility(VIX) 13.42 -2.19%
  • Euro/Yen Carry Return Index 121.98 +.17%
  • Emerging Markets Currency Volatility(VXY) 10.95 -.18%
  • S&P 500 Implied Correlation 31.17 +4.14%
  • ISE Sentiment Index 81.0 +24.62%
  • Total Put/Call .84 -1.18%
  • NYSE Arms .93 -52.66
Credit Investor Angst:
  • North American Investment Grade CDS Index 75.03 +.03%
  • America Energy Sector High-Yield CDS Index 622.0 -1.97%
  • European Financial Sector CDS Index 105.51 +3.01%
  • Western Europe Sovereign Debt CDS Index 21.86 +3.80%
  • Asia Pacific Sovereign Debt CDS Index 43.64 -.65%
  • Emerging Market CDS Index 276.32 +1.44%
  • iBoxx Offshore RMB China Corporate High Yield Index 132.75 +.02%
  • 2-Year Swap Spread 24.0 +.5 basis point
  • TED Spread 46.5 +3.0 basis points
  • 3-Month EUR/USD Cross-Currency Basis Swap -51.0 -2.75 basis points
Economic Gauges:
  • Bloomberg Emerging Markets Currency Index 69.37 -.50%
  • 3-Month T-Bill Yield .43% -3.0 basis points
  • Yield Curve 125.0 +3.0 basis points
  • China Import Iron Ore Spot $73.55/Metric Tonne +1.56%
  • Citi US Economic Surprise Index 8.30 +11.9 points
  • Citi Eurozone Economic Surprise Index 40.2 +.5 point
  • Citi Emerging Markets Economic Surprise Index -4.9 +.1 point
  • 10-Year TIPS Spread 1.92% +5.0 basis points
  • 96.2% chance of Fed rate hike at Feb. 1 meeting, 96.8% chance at March 15 meeting
Overseas Futures:
  • Nikkei 225 Futures: Indicating +248 open in Japan 
  • China A50 Futures: Indicating +10 open in China
  • DAX Futures: Indicating +25 open in Germany
Portfolio: 
  • Higher: On gains in my medical/tech/biotech/retail sector longs
  • Disclosed Trades: None
  • Market Exposure: 75% Net Long

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