Broad Equity Market Tone:
- Advance/Decline Line: Substantially Higher
- Sector Performance: Almost Every Sector Rising
- Volume: Around Average
- Market Leading Stocks: Performing In Line
Equity Investor Angst:
- Volatility(VIX) 9.51 unch.
- Euro/Yen Carry Return Index 137.95 -.49%
- Emerging Markets Currency Volatility(VXY) 7.85 -.76%
- S&P 500 Implied Correlation 20.09 -9.38%
- ISE Sentiment Index 200.0 +132.5%
- Total Put/Call .90 -12.6%
- NYSE Arms 1.03 -14.87%
Credit Investor Angst:
- North American Investment Grade CDS Index 55.02 -1.46%
- America Energy Sector High-Yield CDS Index 406.0 +.55%
- European Financial Sector CDS Index 59.28 -.39%
- Western Europe Sovereign Debt CDS Index 5.33 +6.81%
- Asia Pacific Sovereign Debt CDS Index 18.88 -.68%
- Emerging Market CDS Index 182.05 -1.59%
- iBoxx Offshore RMB China Corporate High Yield Index 142.12 +.04%
- 2-Year Swap Spread 25.25 -.5 basis point
- TED Spread 29.0 unch.
- 3-Month EUR/USD Cross-Currency Basis Swap -40.75 -.75 basis point
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 73.51 -.24%
- 3-Month T-Bill Yield 1.01% -3.0 basis points
- Yield Curve 85.0 unch.
- China Import Iron Ore Spot $62.05/Metric Tonne unch.
- Citi US Economic Surprise Index 1.50 +9.4 points
- Citi Eurozone Economic Surprise Index 45.60 -4.6 points
- Citi Emerging Markets Economic Surprise Index 18.90 +3.9 basis points
- 10-Year TIPS Spread 1.84 -2.0 basis points
- 70.5% chance of Fed rate hike at Dec. 13 meeting, 71.7% chance at Jan. 31 meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating +95 open in Japan
- China A50 Futures: Indicating +153 open in China
- DAX Futures: Indicating -5 open in Germany
Portfolio:
- Higher: On gains in my tech/biotech/medical sector longs
- Disclosed Trades: None
- Market Exposure: 100% Net Long
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