Broad Equity Market Tone:
- Advance/Decline Line: Substantially Higher
- Sector Performance: Almost Every Sector Rising
- Volume: Around Average
- Market Leading Stocks: Performing In Line
Equity Investor Angst:
- Volatility(VIX) 18.56 -17.46%
- Euro/Yen Carry Return Index 120.55 +.48%
- Emerging Markets Currency Volatility(VXY) 10.19 -4.77%
- S&P 500 Implied Correlation 60.72 -16.31%
- ISE Sentiment Index 82.0 +1.23%
- Total Put/Call 1.15 -15.44%
- NYSE Arms .48 -54.09%
Credit Investor Angst:
- North American Investment Grade CDS Index 77.44 -4.15%
- America Energy Sector High-Yield CDS Index 664.0 +1.72%
- European Financial Sector CDS Index 97.06 -3.08%
- Western Europe Sovereign Debt CDS Index 19.44 unch.
- Asia Pacific Sovereign Debt CDS Index 35.20 -3.24%
- Emerging Market CDS Index 235.33 -6.07%
- iBoxx Offshore RMB China Corporate High Yield Index 132.65 +.05%
- 2-Year Swap Spread 25.25 +1.0 basis point
- TED Spread 49.0 -2.5 basis points
- 3-Month EUR/USD Cross-Currency Basis Swap -45.25 +.75 basis point
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 72.22 +.21%
- 3-Month T-Bill Yield .40% +3.0 basis points
- Yield Curve 100.0 unch.
- China Import Iron Ore Spot $67.43/Metric Tonne +3.74%
- Citi US Economic Surprise Index -11.90 +1.0 point
- Citi Eurozone Economic Surprise Index 37.0 +.8 point
- Citi Emerging Markets Economic Surprise Index -1.50 +1.5 points
- 10-Year TIPS Spread 1.73% +4.0 basis points
- 82.7% chance of Fed rate hike at Feb. 1 meeting, 84.4% chance at March 15 meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating +97 open in Japan
- China A50 Futures: Indicating +38 open in China
- DAX Futures: Indicating -10 open in Germany
Portfolio:
- Higher: On gains in my medical/biotech/retail/tech sector longs
- Disclosed Trades: None
- Market Exposure: 50% Net Long
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