Friday, January 05, 2018

Stocks Surging into Afternoon on Economic Optimism, Yen Weakness, Technical Buying, Tech/Homebuilding Sector Strength

Broad Equity Market Tone:
  • Advance/Decline Line: Modestly Higher
  • Sector Performance: Most Sectors Rising
  • Volume: Around Average
  • Market Leading Stocks: Performing In Line
Equity Investor Angst:
  • Volatility(VIX) 9.34 +1.3%
  • Euro/Yen Carry Return Index 142.02 +.17%
  • Emerging Markets Currency Volatility(VXY) 7.68 -.13%
  • S&P 500 Implied Correlation 33.92 -1.62%
  • ISE Sentiment Index 100.0 -11.5%
  • Total Put/Call .89 +8.54%
  • NYSE Arms 1.02 +15.15%
Credit Investor Angst:
  • North American Investment Grade CDS Index 45.86 -.37%
  • America Energy Sector High-Yield CDS Index 347.0 -1.68%
  • European Financial Sector CDS Index 42.28 +.04%
  • Western Europe Sovereign Debt CDS Index 3.96 n/a
  • Asia Pacific Sovereign Debt CDS Index 11.36 -5.96%
  • Emerging Market CDS Index 111.74 -.70%
  • iBoxx Offshore RMB China Corporate High Yield Index 146.32 +.02%
  • 2-Year Swap Spread 18.75 +.5 basis point
  • TED Spread 31.0 +2.0 basis points
  • 3-Month EUR/USD Cross-Currency Basis Swap -22.25 -2.25 basis points
Economic Gauges:
  • Bloomberg Emerging Markets Currency Index 75.20 +.01%
  • 3-Month T-Bill Yield 1.40% +1.0 basis point
  • Yield Curve 51.5 -.25 basis point
  • China Iron Ore Spot 514.50 CNY/100 Metric Tonnes +2.29%
  • Citi US Economic Surprise Index 75.0 -3.2 points
  • Citi Eurozone Economic Surprise Index 46.0 -.8 basis point
  • Citi Emerging Markets Economic Surprise Index -.3 +.6 point
  • 10-Year TIPS Spread 2.03 +3.0 basis points
  • 79.8% chance of Fed rate hike at March 21 meeting, 81.1% chance at May 2 meeting
Overseas Futures:
  • Nikkei 225 Futures: Indicating +106 open in Japan 
  • China A50 Futures: Indicating +67 open in China
  • DAX Futures: Indicating +3 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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