Tuesday, January 09, 2018

Stocks Higher into Final Hour on Economic Optimism, Oil Gain, Sector Rotation, Biotech/Financial Sector Strength

Broad Equity Market Tone:
  • Advance/Decline Line: Around Even
  • Sector Performance: Mixed
  • Volume: Above Average
  • Market Leading Stocks: Performing In Line
Equity Investor Angst:
  • Volatility(VIX) 9.58 +.63%
  • Euro/Yen Carry Return Index 140.01 -.72%
  • Emerging Markets Currency Volatility(VXY) 7.53 +1.07%
  • S&P 500 Implied Correlation 33.46 -3.7%
  • ISE Sentiment Index 102.0 -20.93%
  • Total Put/Call .80 +.25%
  • NYSE Arms .77 -33.0%
Credit Investor Angst:
  • North American Investment Grade CDS Index 45.87 +1.02%
  • America Energy Sector High-Yield CDS Index 342.0 -.71%
  • European Financial Sector CDS Index 43.55 +1.59%
  • Italian/German 10Y Yld Spread 157.0 +1 basis point
  • Asia Pacific Sovereign Debt CDS Index 9.75 -10.0%
  • Emerging Market CDS Index 111.20 +.03%
  • iBoxx Offshore RMB China Corporate High Yield Index 146.54 +.04%
  • 2-Year Swap Spread 19.50 +.5 basis point
  • TED Spread 29.0 -1.25 basis points
  • 3-Month EUR/USD Cross-Currency Basis Swap -24.5 -1.0 basis point
Economic Gauges:
  • Bloomberg Emerging Markets Currency Index 74.78 -.21%
  • 3-Month T-Bill Yield 1.43% +2.0 basis points
  • Yield Curve 58.25 +6.0 basis points
  • China Iron Ore Spot 520.0 CNY/100 Metric Tonnes +.1%
  • Citi US Economic Surprise Index 67.0 -6.9 points
  • Citi Eurozone Economic Surprise Index 58.80 +6.6 basis points
  • Citi Emerging Markets Economic Surprise Index 0.0 +1.2 points
  • 10-Year TIPS Spread 2.04 +2.0 basis points
  • 81.5% chance of Fed rate hike at March 21 meeting, 82.3% chance at May 2 meeting
Overseas Futures:
  • Nikkei 225 Futures: Indicating +21 open in Japan 
  • China A50 Futures: Indicating +48 open in China
  • DAX Futures: Indicating +4 open in Germany
Portfolio: 
  • Higher: On gains in my medical/biotech sector longs
  • Disclosed Trades: None
  • Market Exposure: 100% Net Long

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