Tuesday, April 04, 2017

Stocks Slightly Higher into Final Hour on Economic Optimism, Oil Gain, Technical Buying, Energy/Metals & Mining 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) 11.97 -3.31%
  • Euro/Yen Carry Return Index 123.26 -.22%
  • Emerging Markets Currency Volatility(VXY) 9.05 +1.0%
  • S&P 500 Implied Correlation 42.89 -3.12%
  • ISE Sentiment Index 77.0 -5.0%
  • Total Put/Call 1.22 +24.5%
  • NYSE Arms .81 -51.0%
Credit Investor Angst:
  • North American Investment Grade CDS Index 66.25 -.77%
  • America Energy Sector High-Yield CDS Index 361.0 -.64%
  • European Financial Sector CDS Index 92.31 +.27%
  • Western Europe Sovereign Debt CDS Index 12.46 -3.82%
  • Asia Pacific Sovereign Debt CDS Index 21.01 -1.27%
  • Emerging Market CDS Index 212.19 -.62%
  • iBoxx Offshore RMB China Corporate High Yield Index 136.58 +.02%
  • 2-Year Swap Spread 36.75 +2.5 basis points
  • TED Spread 36.75 -2.0 basis points
  • 3-Month EUR/USD Cross-Currency Basis Swap -24.25 +.75 basis point
Economic Gauges:
  • Bloomberg Emerging Markets Currency Index 71.95 -.14%
  • 3-Month T-Bill Yield .78% +2.0 basis point
  • Yield Curve 111.0 -1.0 basis point
  • China Import Iron Ore Spot $79.45/Metric Tonne +.1%
  • Citi US Economic Surprise Index 43.70 -.8 point
  • Citi Eurozone Economic Surprise Index 47.0 -.7 point
  • Citi Emerging Markets Economic Surprise Index 27.90 -3.4 points
  • 10-Year TIPS Spread 1.96 -1.0 basis point
  • 56.7% chance of Fed rate hike at June 14 meeting, 62.2% chance at July 26 meeting
Overseas Futures:
  • Nikkei 225 Futures: Indicating +150 open in Japan 
  • China A50 Futures: Indicating +93 open in China
  • DAX Futures: Indicating +33 open in Germany
Portfolio: 
  • Slightly Lower: On losses in my retail/medical sector longs
  • Disclosed Trades: None
  • Market Exposure: 75% Net Long

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