Broad Equity Market Tone:
- Advance/Decline Line: Higher
- Sector Performance: Almost Every Sector Rising
- Volume: Above Average
- Market Leading Stocks: Outperforming
Equity Investor Angst:
- Volatility(VIX) 10.47 +.67%
- Euro/Yen Carry Return Index 130.29 +.76%
- Emerging Markets Currency Volatility(VXY) 7.95 -.25%
- S&P 500 Implied Correlation 40.68 -3.28%
- ISE Sentiment Index 101.0 unch.
- Total Put/Call .72 -15.29%
- NYSE Arms .87 -27.9%
Credit Investor Angst:
- North American Investment Grade CDS Index 61.82 -1.05%
- America Energy Sector High-Yield CDS Index 367.0 -1.03%
- European Financial Sector CDS Index 67.59 -1.37%
- Western Europe Sovereign Debt CDS Index 8.68 +10.15%
- Asia Pacific Sovereign Debt CDS Index 20.52 +.05%
- Emerging Market CDS Index 190.23 -2.16%
- iBoxx Offshore RMB China Corporate High Yield Index 137.83 +.12%
- 2-Year Swap Spread 23.50 -1.5 basis points
- TED Spread 30.5 -1.25 basis points
- 3-Month EUR/USD Cross-Currency Basis Swap -31.0 +1.0 basis point
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 72.89 +.57%
- 3-Month T-Bill Yield .88% +1.0 basis point
- Yield Curve 104.0 unch.
- China Import Iron Ore Spot $60.80/Metric Tonne -.94%
- Citi US Economic Surprise Index -32.0 -3.5 points
- Citi Eurozone Economic Surprise Index 67.50 -2.0 points
- Citi Emerging Markets Economic Surprise Index 28.8 -4.3 points
- 10-Year TIPS Spread 1.85 -1.0 basis point
- 90.2% chance of Fed rate hike at July 26 meeting, 93.7% chance at Sept. 20 meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating +76 open in Japan
- China A50 Futures: Indicating +44 open in China
- DAX Futures: Indicating +3 open in Germany
Portfolio:
- Higher: On gains in my biotech/tech/medical sector longs
- Disclosed Trades: None
- Market Exposure: 100% Net Long
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