Tuesday, February 07, 2017

Stocks Slightly Higher into Final Hour on Earnings Optimism, Yen Weakness, Technical Buying, Tech/Agriculture Sector Strength

Broad Equity Market Tone:
  • Advance/Decline Line: Modestly Lower
  • Sector Performance: Mixed
  • Volume: Below Average
  • Market Leading Stocks: Performing In Line
Equity Investor Angst:
  • Volatility(VIX) 11.35 -.18%
  • Euro/Yen Carry Return Index 125.27 -.10%
  • Emerging Markets Currency Volatility(VXY) 10.30 +.10%
  • S&P 500 Implied Correlation 45.78 -3.62%
  • ISE Sentiment Index 54.0 -5.26%
  • Total Put/Call 1.19 +14.42%
  • NYSE Arms 1.44 +12.35%
Credit Investor Angst:
  • North American Investment Grade CDS Index 65.47 +.17%
  • America Energy Sector High-Yield CDS Index 379.0 +1.59%
  • European Financial Sector CDS Index 95.61 +4.52%
  • Western Europe Sovereign Debt CDS Index 23.59 -.46%
  • Asia Pacific Sovereign Debt CDS Index 29.17 -2.85%
  • Emerging Market CDS Index 226.79 -.18%
  • iBoxx Offshore RMB China Corporate High Yield Index 134.02 +.13%
  • 2-Year Swap Spread 31.25 -1.25 basis points
  • TED Spread 51.5 -1.25 basis points
  • 3-Month EUR/USD Cross-Currency Basis Swap -28.75 unch.
Economic Gauges:
  • Bloomberg Emerging Markets Currency Index 71.05 -.46%
  • 3-Month T-Bill Yield .52% +1.0 basis point
  • Yield Curve 122.0 -4.0 basis points
  • China Import Iron Ore Spot $83.29/Metric Tonne +3.34%
  • Citi US Economic Surprise Index 41.90 -1.9 points
  • Citi Eurozone Economic Surprise Index 52.60 -10.6 points
  • Citi Emerging Markets Economic Surprise Index 37.40 -.4 point
  • 10-Year TIPS Spread 2.0 -2.0 basis points
  • 40.80% chance of Fed rate hike at May 3 meeting, 65.1% chance at June 14 meeting
Overseas Futures:
  • Nikkei 225 Futures: Indicating +25 open in Japan 
  • China A50 Futures: Indicating +36 open in China
  • DAX Futures: Indicating +1 open in Germany
Portfolio: 
  • Slightly Higher: On gains in my in my medical/tech sector longs and emerging markets shorts 
  • Disclosed Trades: None
  • Market Exposure: 75% Net Long

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