Friday, August 04, 2017

Stocks Slightly Higher into Afternoon on Economic Optimism, Oil Gain, Yen Weakness, Financial/Retail Sector Strength

Broad Equity Market Tone:
  • Advance/Decline Line: Modestly Higher
  • Sector Performance: Most Sectors Rising
  • Volume: Around Average
  • Market Leading Stocks: Outperforming
Equity Investor Angst:
  • Volatility(VIX) 9.82 -5.94%
  • Euro/Yen Carry Return Index 135.85 -.29%
  • Emerging Markets Currency Volatility(VXY) 7.48 -1.06%
  • S&P 500 Implied Correlation 29.51 -2.51%
  • ISE Sentiment Index n/a
  • Total Put/Call .93 -7.0%
  • NYSE Arms .73 -36.36%
Credit Investor Angst:
  • North American Investment Grade CDS Index 57.56 +.68%
  • America Energy Sector High-Yield CDS Index 470.0 +8.51%
  • European Financial Sector CDS Index 50.34 +.25%
  • Western Europe Sovereign Debt CDS Index 5.50 +.73%
  • Asia Pacific Sovereign Debt CDS Index 18.77 +.29%
  • Emerging Market CDS Index 186.42 +.24%
  • iBoxx Offshore RMB China Corporate High Yield Index 140.53 -.07%
  • 2-Year Swap Spread 25.0 +.5 basis point
  • TED Spread 24.0 -.25 basis point
  • 3-Month EUR/USD Cross-Currency Basis Swap -25.25 unch.
Economic Gauges:
  • Bloomberg Emerging Markets Currency Index 73.77 -.25%
  • 3-Month T-Bill Yield 1.07% unch.
  • Yield Curve 91.0 +1.0 basis point
  • China Import Iron Ore Spot $74.12/Metric Tonne +1.63%
  • Citi US Economic Surprise Index -40.80 +3.3 points
  • Citi Eurozone Economic Surprise Index 18.30 +1.2 basis points
  • Citi Emerging Markets Economic Surprise Index 17.20 -1.7 basis points
  • 10-Year TIPS Spread 1.80 +2.0 basis points
  • 19.5% chance of Fed rate hike at Nov. 1 meeting, 48.4% chance at Dec. 13 meeting
Overseas Futures:
  • Nikkei 225 Futures: Indicating +97 open in Japan 
  • China A50 Futures: Indicating +41 open in China
  • DAX Futures: Indicating +7 open in Germany
Portfolio: 
  • Slightly Lower: On losses in my tech sector longs 
  • Disclosed Trades: None
  • Market Exposure: 75% Net Long

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