Wednesday, February 01, 2017

Stocks Slightly Higher into Final Hour on Economic Optimism, Positive Earnings Surprises, Yen Weakness, Tech/Healthcare Sector Strength

Broad Equity Market Tone:
  • Advance/Decline Line: Slightly Lower
  • Sector Performance: Mixed
  • Volume: Around Average
  • Market Leading Stocks: Performing In Line
Equity Investor Angst:
  • Volatility(VIX) 11.74 -2.1%
  • Euro/Yen Carry Return Index 127.20 +.03%
  • Emerging Markets Currency Volatility(VXY) 10.65 -.37%
  • S&P 500 Implied Correlation 45.70 -2.43%
  • ISE Sentiment Index 84.0 +5.0%
  • Total Put/Call .91 -10.78%
  • NYSE Arms 1.21 -10.07%
Credit Investor Angst:
  • North American Investment Grade CDS Index 65.97 -.08%
  • America Energy Sector High-Yield CDS Index 402.0 -3.4%
  • European Financial Sector CDS Index 90.36 +.04%
  • Western Europe Sovereign Debt CDS Index 22.46 +3.65%
  • Asia Pacific Sovereign Debt CDS Index 32.31 +1.25%
  • Emerging Market CDS Index 235.70 -.51%
  • iBoxx Offshore RMB China Corporate High Yield Index 133.36 -.11%
  • 2-Year Swap Spread 29.50 unch.
  • TED Spread 52.25 -.5 basis point
  • 3-Month EUR/USD Cross-Currency Basis Swap -30.0 -.75 basis point
Economic Gauges:
  • Bloomberg Emerging Markets Currency Index 70.85 +.09%
  • 3-Month T-Bill Yield .50% -1.0 basis point
  • Yield Curve 126.0 +2.0 basis points
  • China Import Iron Ore Spot $83.34/Metric Tonne n/a
  • Citi US Economic Surprise Index 39.40 +7.6 points
  • Citi Eurozone Economic Surprise Index 57.60 +2.3 points
  • Citi Emerging Markets Economic Surprise Index 37.10 +5.4 points
  • 10-Year TIPS Spread 2.06 -1.0 basis point
  • 48.6% chance of Fed rate hike at May 3 meeting, 71.4% chance at June 14 meeting
Overseas Futures:
  • Nikkei 225 Futures: Indicating +62 open in Japan 
  • China A50 Futures: Indicating n/a open in China
  • DAX Futures: Indicating +10 open in Germany
Portfolio: 
  • Higher: On gains in my in my biotech/tech sector longs 
  • Disclosed Trades: None
  • Market Exposure: 75% Net Long

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