Wednesday, August 16, 2017

Stocks Slighly Higher into Final Hour on Diminished Rate-Hike Fears, Technical Buying, Bargain-Hunting, Metal & Mining/Retail Sector Strength

Broad Equity Market Tone:
  • Advance/Decline Line: Higher
  • Sector Performance: Most Sectors Rising
  • Volume: Below Average
  • Market Leading Stocks: Performing In Line
Equity Investor Angst:
  • Volatility(VIX) 11.87 -1.41%
  • Euro/Yen Carry Return Index 135.21 -.21%
  • Emerging Markets Currency Volatility(VXY) 7.59 -.39%
  • S&P 500 Implied Correlation 32.76 -1.21%
  • ISE Sentiment Index 91.0 +21.3%
  • Total Put/Call .97 +2.11%
  • NYSE Arms 1.09 +28.4%
Credit Investor Angst:
  • North American Investment Grade CDS Index 59.59 -.04%
  • America Energy Sector High-Yield CDS Index 447.0 +.11%
  • European Financial Sector CDS Index 52.88 -1.42%
  • Western Europe Sovereign Debt CDS Index 5.51 +.27%
  • Asia Pacific Sovereign Debt CDS Index 21.31 -4.1%
  • Emerging Market CDS Index 188.88 -.1%
  • iBoxx Offshore RMB China Corporate High Yield Index 141.01 +.05%
  • 2-Year Swap Spread 26.0 +.5 basis point
  • TED Spread 31.0 +1.0 basis point
  • 3-Month EUR/USD Cross-Currency Basis Swap -25.50 +2.5 basis points
Economic Gauges:
  • Bloomberg Emerging Markets Currency Index 73.79 +.29%
  • 3-Month T-Bill Yield 1.0% -2.0 basis points
  • Yield Curve 90.0 -2.0 basis points
  • China Import Iron Ore Spot $72.97/Metric Tonne -.96%
  • Citi US Economic Surprise Index -32.70 -6.9 points
  • Citi Eurozone Economic Surprise Index 10.50 +.4 point
  • Citi Emerging Markets Economic Surprise Index 16.90 +1.6 basis points
  • 10-Year TIPS Spread 1.78 -1.0 basis point
  • 17.5% chance of Fed rate hike at Nov. 1 meeting, 43.7% chance at Dec. 13 meeting
Overseas Futures:
  • Nikkei 225 Futures: Indicating -4 open in Japan 
  • China A50 Futures: Indicating +47 open in China
  • DAX Futures: Indicating -37 open in Germany
Portfolio: 
  • Higher: On gains in my biotech/tech/medical/retail sector longs 
  • Disclosed Trades: None
  • Market Exposure: 75% Net Long

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