Wednesday, January 17, 2018

Stocks Surging into Close on Earnings Optimism, Diminishing Govt Shutdown Worries, Yen Weakness, Tech/Homebuilding Sector Strength

Broad Equity Market Tone:
  • Advance/Decline Line: Substantially Higher
  • Sector Performance: Almost Every Sector Rising
  • Volume: Above Average
  • Market Leading Stocks: Performing In Line
Equity Investor Angst:
  • Volatility(VIX) 11.55 -.94%
  • Euro/Yen Carry Return Index 141.50 +.28%
  • Emerging Markets Currency Volatility(VXY) 7.89 +1.15%
  • S&P 500 Implied Correlation 32.92 -1.11%
  • ISE Sentiment Index 85.0 -15.84%
  • Total Put/Call .81 +16.37%
  • NYSE Arms .98 -.56%
Credit Investor Angst:
  • North American Investment Grade CDS Index 47.77 +.18%
  • America Energy Sector High-Yield CDS Index 320.0 +.15%
  • European Financial Sector CDS Index 43.09 +1.0%
  • Italian/German 10Y Yld Spread 143.75 +3.0 basis points
  • Asia Pacific Sovereign Debt CDS Index 10.37 +4.54%
  • Emerging Market CDS Index 110.29 +.12%
  • iBoxx Offshore RMB China Corporate High Yield Index 146.78 unch.
  • 2-Year Swap Spread 20.0 unch.
  • TED Spread 29.75 +2.5 basis points
  • 3-Month EUR/USD Cross-Currency Basis Swap -25.5 -1.75 basis points
Economic Gauges:
  • Bloomberg Emerging Markets Currency Index 75.48 -.07%
  • 3-Month T-Bill Yield 1.44% +2.0 basis points
  • Yield Curve 53.25 +.5 basis point
  • China Iron Ore Spot 516.0 CNY/100 Metric Tonnes +2.18%
  • Citi US Economic Surprise Index 70.0 +4.4 points
  • Citi Eurozone Economic Surprise Index 56.0 -.6 basis point
  • Citi Emerging Markets Economic Surprise Index 5.3 +.2 basis point
  • 10-Year TIPS Spread 2.06 +2.0 basis points
  • 86.9% chance of Fed rate hike at March 21 meeting, 87.2% chance at May 2 meeting
Overseas Futures:
  • Nikkei 225 Futures: Indicating +132 open in Japan 
  • China A50 Futures: Indicating +92 open in China
  • DAX Futures: Indicating +53 open in Germany
Portfolio: 
  • Higher: On gains in my biotech/retail/tech/medical sector longs
  • Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges
  • Market Exposure: Moved 100% Net Long

No comments: