Tuesday, February 14, 2017

Stocks Reversing Higher into Final Hour on Economic Optimism, Yen Weakness, Short-Covering, Financial/Healthcare Sector Strength

Broad Equity Market Tone:
  • Advance/Decline Line: Slightly Higher
  • Sector Performance: Mixed
  • Volume: Slightly Below Average
  • Market Leading Stocks: Performing In Line
Equity Investor Angst:
  • Volatility(VIX) 11.03 -.36%
  • Euro/Yen Carry Return Index 126.11 +.17%
  • Emerging Markets Currency Volatility(VXY) 9.97 -1.29%
  • S&P 500 Implied Correlation 43.74 -3.1%
  • ISE Sentiment Index 96.0 +33.3%
  • Total Put/Call .67 +3.08%
  • NYSE Arms .58 -15.58%
Credit Investor Angst:
  • North American Investment Grade CDS Index 63.16 -.56%
  • America Energy Sector High-Yield CDS Index 376.0 +.24%
  • European Financial Sector CDS Index 92.36 +.36%
  • Western Europe Sovereign Debt CDS Index 23.67 +.98%
  • Asia Pacific Sovereign Debt CDS Index 27.2 -.91%
  • Emerging Market CDS Index 209.20 -1.33%
  • iBoxx Offshore RMB China Corporate High Yield Index 134.43 -.04%
  • 2-Year Swap Spread 32.0 +.75 basis point
  • TED Spread 50.25 unch.
  • 3-Month EUR/USD Cross-Currency Basis Swap -27.75 unch.
Economic Gauges:
  • Bloomberg Emerging Markets Currency Index 71.47 +.32%
  • 3-Month T-Bill Yield .54% +1.0 basis point
  • Yield Curve 124.0 +1.0 basis point
  • China Import Iron Ore Spot $91.71/Metric Tonne -.56%
  • Citi US Economic Surprise Index 36.10 -.9 point
  • Citi Eurozone Economic Surprise Index 43.90 -5.7 points
  • Citi Emerging Markets Economic Surprise Index 39.40 +.2 point
  • 10-Year TIPS Spread 2.02 +1.0 basis point
  • 53.0% chance of Fed rate hike at May 3 meeting, 73.5% chance at June 14 meeting
Overseas Futures:
  • Nikkei 225 Futures: Indicating +136 open in Japan 
  • China A50 Futures: Indicating +54 open in China
  • DAX Futures: Indicating +12 open in Germany
Portfolio: 
  • Higher: On gains in my in my biotech/medical/retail sector longs 
  • Disclosed Trades: None
  • Market Exposure: 100% Net Long

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