Monday, November 06, 2017

Stocks Modestly Higher into Final Hour on Buyout Speculation, Economic Optimism, Oil Gain, Commodity/Tech Sector Strength

Broad Equity Market Tone:
  • Advance/Decline Line: Slightly Higher
  • Sector Performance: Most Sectors Rising
  • Volume: Above Average
  • Market Leading Stocks: Performing In Line
Equity Investor Angst:
  • Volatility(VIX) 9.47 +3.61%
  • Euro/Yen Carry Return Index 137.62 -.30%
  • Emerging Markets Currency Volatility(VXY) 8.05 -.74%
  • S&P 500 Implied Correlation 14.66 +1.95%
  • ISE Sentiment Index 73.0 -27.0%
  • Total Put/Call .88 -4.35%
  • NYSE Arms .69 -28.0%
Credit Investor Angst:
  • North American Investment Grade CDS Index 53.04 -.37%
  • America Energy Sector High-Yield CDS Index 366.0 +.49%
  • European Financial Sector CDS Index 50.70 +.63%
  • Western Europe Sovereign Debt CDS Index 3.98 +1.02%
  • Asia Pacific Sovereign Debt CDS Index 15.21 +2.39%
  • Emerging Market CDS Index 180.40 -.26%
  • iBoxx Offshore RMB China Corporate High Yield Index 145.06 +.05%
  • 2-Year Swap Spread 21.0 +.25 basis point
  • TED Spread 21.0-1.25 basis points
  • 3-Month EUR/USD Cross-Currency Basis Swap -42.25 +1.0 basis point
Economic Gauges:
  • Bloomberg Emerging Markets Currency Index 72.62 +.41%
  • 3-Month T-Bill Yield 1.18% +1.0 basis point
  • Yield Curve 70.5 -1.75 basis points
  • China Import Iron Ore Spot $63.36/Metric Tonne +5.81%
  • Citi US Economic Surprise Index 39.80 -1.1 points
  • Citi Eurozone Economic Surprise Index 61.80 +3.1 basis points
  • Citi Emerging Markets Economic Surprise Index 17.0 -1.3 points
  • 10-Year TIPS Spread 1.87 unch.
  • 100.0% chance of Fed rate hike at Jan. 31 meeting, 100.0% chance at March 21 meeting
Overseas Futures:
  • Nikkei 225 Futures: Indicating +53 open in Japan 
  • China A50 Futures: Indicating +49 open in China
  • DAX Futures: Indicating +2 open in Germany
Portfolio: 
  • Higher: On gains in my tech/retail sector longs
  • Disclosed Trades: None
  • Market Exposure: 100% Net Long

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