Monday, January 08, 2018

Stocks Reversing Slightly Higher into Final Hour on Economic Optimism, Oil Gain, Technical Buying, Road & Rail/Tech Sector Strength

Broad Equity Market Tone:
  • Advance/Decline Line: Around Even
  • Sector Performance: Most Sectors Rising
  • Volume: Around Average
  • Market Leading Stocks: Performing In Line
Equity Investor Angst:
  • Volatility(VIX) 9.35 +1.4%
  • Euro/Yen Carry Return Index 141.01 -.52%
  • Emerging Markets Currency Volatility(VXY) 7.50 -1.45%
  • S&P 500 Implied Correlation 33.73 -3.36%
  • ISE Sentiment Index 143.0 +31.2%
  • Total Put/Call .61 -33.0%
  • NYSE Arms 1.28 +35.26%
Credit Investor Angst:
  • North American Investment Grade CDS Index 45.36 -.87%
  • America Energy Sector High-Yield CDS Index 346.0 -.58%
  • European Financial Sector CDS Index 42.97 +1.61%
  • Western Europe Sovereign Debt CDS Index 3.96 n/a
  • Asia Pacific Sovereign Debt CDS Index 10.83 -4.71%
  • Emerging Market CDS Index 110.94 -.37%
  • iBoxx Offshore RMB China Corporate High Yield Index 146.48 +.11%
  • 2-Year Swap Spread 19.0 +.25 basis point
  • TED Spread 30.25 -.75 basis point
  • 3-Month EUR/USD Cross-Currency Basis Swap -23.5 -1.25 basis points
Economic Gauges:
  • Bloomberg Emerging Markets Currency Index 74.92 -.35%
  • 3-Month T-Bill Yield 1.41% +1.0 basis point
  • Yield Curve 52.25 +.75 basis point
  • China Iron Ore Spot 518.50 CNY/100 Metric Tonnes +1.77%
  • Citi US Economic Surprise Index 73.90 -1.1 points
  • Citi Eurozone Economic Surprise Index 52.20 +6.2 basis points
  • Citi Emerging Markets Economic Surprise Index -1.2 -.9 point
  • 10-Year TIPS Spread 2.02 -1.0 basis point
  • 79.8% chance of Fed rate hike at March 21 meeting, 80.7% chance at May 2 meeting
Overseas Futures:
  • Nikkei 225 Futures: Indicating +261 open in Japan 
  • China A50 Futures: Indicating +41 open in China
  • DAX Futures: Indicating +1 open in Germany
Portfolio: 
  • Higher: On gains in my medical/tech/retail sector longs
  • Disclosed Trades: None
  • Market Exposure: 100% Net Long

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