Thursday, January 26, 2017

Stocks Slightly Lower into Final Hour on European Debt Angst, Earnings Outlooks, Profit-Taking, Gaming/Commodity Sector Weakness

Broad Equity Market Tone:
  • Advance/Decline Line: Lower
  • Sector Performance: Mixed
  • Volume: Slightly Above Average
  • Market Leading Stocks: Performing In Line
Equity Investor Angst:
  • Volatility(VIX) 10.66 -1.39%
  • Euro/Yen Carry Return Index 127.84 +.51%
  • Emerging Markets Currency Volatility(VXY) 10.63 -.56%
  • S&P 500 Implied Correlation 45.06 -3.5%
  • ISE Sentiment Index 114.0 +65.2%
  • Total Put/Call .88 +23.94%
  • NYSE Arms 1.35 +79.29%
Credit Investor Angst:
  • North American Investment Grade CDS Index 64.34 +.01%
  • America Energy Sector High-Yield CDS Index 403.0 -1.96%
  • European Financial Sector CDS Index 85.66 +2.48%
  • Western Europe Sovereign Debt CDS Index 21.28 +6.83%
  • Asia Pacific Sovereign Debt CDS Index 32.83 +.46%
  • Emerging Market CDS Index 236.32 +.13%
  • iBoxx Offshore RMB China Corporate High Yield Index 133.36 unch.
  • 2-Year Swap Spread 28.75 +1.25 basis points
  • TED Spread 53.50 -.5 basis point
  • 3-Month EUR/USD Cross-Currency Basis Swap -37.75 -2.75 basis points
Economic Gauges:
  • Bloomberg Emerging Markets Currency Index 70.31 -.43%
  • 3-Month T-Bill Yield .50% +1.0 basis point
  • Yield Curve 128.0 unch.
  • China Import Iron Ore Spot $83.34/Metric Tonne +1.03%
  • Citi US Economic Surprise Index 35.80 -7.3 points
  • Citi Eurozone Economic Surprise Index 51.0 -.2 basis point
  • Citi Emerging Markets Economic Surprise Index 39.50 +1.5 points
  • 10-Year TIPS Spread 2.07 unch.
  • 34.6% chance of Fed rate hike at March 15 meeting, 50.5% chance at May 3 meeting
Overseas Futures:
  • Nikkei 225 Futures: Indicating +143 open in Japan 
  • China A50 Futures: Indicating +79 open in China
  • DAX Futures: Indicating -12 open in Germany
Portfolio: 
  • Slightly Lower: On losses in my in my retail/medical sector longs 
  • Disclosed Trades: None
  • Market Exposure: 75% Net Long

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