Broad Equity Market Tone:
- Advance/Decline Line: Substantially Higher
- Sector Performance: Almost Every Sector Rising
- Volume: Around Average
- Market Leading Stocks: Outperforming
Equity Investor Angst:
- Volatility(VIX) 9.83 -.61%
- Euro/Yen Carry Return Index 130.05 -.22%
- Emerging Markets Currency Volatility(VXY) 8.12 -1.46%
- S&P 500 Implied Correlation 38.98 -5.07%
- ISE Sentiment Index 85.0 +11.84%
- Total Put/Call .78 -22.0%
- NYSE Arms 1.74 +57.10%
Credit Investor Angst:
- North American Investment Grade CDS Index 60.03 -3.27%
- America Energy Sector High-Yield CDS Index 376.0 +.89%
- European Financial Sector CDS Index 70.35 +.67%
- Western Europe Sovereign Debt CDS Index 8.12 -2.46%
- Asia Pacific Sovereign Debt CDS Index 19.10 -.80%
- Emerging Market CDS Index 191.71 -.97%
- iBoxx Offshore RMB China Corporate High Yield Index 138.66 +.01%
- 2-Year Swap Spread 22.5 -.25 basis point
- TED Spread 24.75 +1.5 basis points
- 3-Month EUR/USD Cross-Currency Basis Swap -31.25 +2.25 basis points
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 73.36 +.21%
- 3-Month T-Bill Yield .97% unch.
- Yield Curve 88.0 -4.0 basis points
- China Import Iron Ore Spot $57.79/Metric Tonne -.21%
- Citi US Economic Surprise Index -40.90 -4.8 points
- Citi Eurozone Economic Surprise Index 43.60 +.1 point
- Citi Emerging Markets Economic Surprise Index 10.70 -.3 point
- 10-Year TIPS Spread 1.82 -2.0 basis points
- 93.5% chance of Fed rate hike at July 26 meeting, 95.2% chance at Sept. 20 meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating -12 open in Japan
- China A50 Futures: Indicating -22 open in China
- DAX Futures: Indicating +20 open in Germany
Portfolio:
- Higher: On gains in my tech/medical/biotech sector longs
- Disclosed Trades: None
- Market Exposure: 100% Net Long
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