Broad Equity Market Tone:
- Advance/Decline Line: Substantially Higher
- Sector Performance: Most Sectors Rising
- Volume: Slightly Below Average
- Market Leading Stocks: Outperforming
Equity Investor Angst:
- Volatility(VIX) 11.8 -2.8%
- Euro/Yen Carry Return Index 127.60 -.30%
- Emerging Markets Currency Volatility(VXY) 10.86 +.28%
- S&P 500 Implied Correlation 51.21 -1.14%
- ISE Sentiment Index 87.0 +2.35%
- Total Put/Call .87 +1.16%
- NYSE Arms 1.06 +28.32%
Credit Investor Angst:
- North American Investment Grade CDS Index 70.18 -2.62%
- America Energy Sector High-Yield CDS Index 533.0 +7.18%
- European Financial Sector CDS Index 101.38 -5.81%
- Western Europe Sovereign Debt CDS Index 23.42 -.34%
- Asia Pacific Sovereign Debt CDS Index 39.68 -2.06%
- Emerging Market CDS Index 257.80 -3.32%
- iBoxx Offshore RMB China Corporate High Yield Index 132.93 -.06%
- 2-Year Swap Spread 23.0 -1.25 basis points
- TED Spread 46.0 -1.5 basis point
- 3-Month EUR/USD Cross-Currency Basis Swap -56.25 +2.0 basis points
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 69.97 +.43%
- 3-Month T-Bill Yield .49% +3.0 basis points
- Yield Curve 128.0 +1.0 basis point
- China Import Iron Ore Spot $79.73/Metric Tonne +1.41%
- Citi US Economic Surprise Index 30.10 +1.4 points
- Citi Eurozone Economic Surprise Index 66.10 +7.2 points
- Citi Emerging Markets Economic Surprise Index 3.9 +.3 point
- 10-Year TIPS Spread 1.99% +2.0 basis points
- 100.0% chance of Fed rate hike at Feb. 1 meeting, 100.0% chance at March 15 meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating +150 open in Japan
- China A50 Futures: Indicating +16 open in China
- DAX Futures: Indicating +47 open in Germany
Portfolio:
- Higher: On gains in my retail/biotech/medical sector longs
- Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges
- Market Exposure: Moved to 75% Net Long
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