Friday, May 05, 2017

Stocks Slightly Higher into Afternoon on Economic Optimism, Oil Gain, Short-Covering, Commodity/Telecom Sector Strength

Broad Equity Market Tone:
  • Advance/Decline Line: About Even
  • Sector Performance: Mixed
  • Volume: Around Average
  • Market Leading Stocks: Performing In Line
Equity Investor Angst:
  • Volatility(VIX) 10.29 -1.63%
  • Euro/Yen Carry Return Index 129.29 +.25%
  • Emerging Markets Currency Volatility(VXY) 8.51 +.71%
  • S&P 500 Implied Correlation 41.63 -3.7%
  • ISE Sentiment Index 90.0 +38.5%
  • Total Put/Call .97 +6.59%
  • NYSE Arms .65 -34.06%
Credit Investor Angst:
  • North American Investment Grade CDS Index 62.93 +.18%
  • America Energy Sector High-Yield CDS Index 384.0 +1.26%
  • European Financial Sector CDS Index 68.98 -1.64%
  • Western Europe Sovereign Debt CDS Index 7.87 +.45%
  • Asia Pacific Sovereign Debt CDS Index 21.04 -1.6%
  • Emerging Market CDS Index 195.09 -1.36%
  • iBoxx Offshore RMB China Corporate High Yield Index 137.34 +.13%
  • 2-Year Swap Spread 29.0 unch.
  • TED Spread 29.25 -1.75 basis points
  • 3-Month EUR/USD Cross-Currency Basis Swap -30.25 unch.
Economic Gauges:
  • Bloomberg Emerging Markets Currency Index 72.19 +.26%
  • 3-Month T-Bill Yield .88% +1.0 basis point
  • Yield Curve 104.0 unch.
  • China Import Iron Ore Spot $61.73/Metric Tonne -5.32%
  • Citi US Economic Surprise Index -18.20 +1.9 points
  • Citi Eurozone Economic Surprise Index 68.20 -.6 point
  • Citi Emerging Markets Economic Surprise Index 33.9 +1.5 points
  • 10-Year TIPS Spread 1.87 +1.0 basis point
  • 91.5% chance of Fed rate hike at July 26 meeting, 95.4% chance at Sept. 20 meeting
Overseas Futures:
  • Nikkei 225 Futures: Indicating +250 open in Japan 
  • China A50 Futures: Indicating -4 open in China
  • DAX Futures: Indicating +73 open in Germany
Portfolio: 
  • Slightly Higher: On gains in my medical/tech/retail sector longs 
  • Disclosed Trades: None
  • Market Exposure: 75% Net Long

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