Friday, January 12, 2018

Stocks Surging into Final Hour on Economic Optimism, Earnings Outlooks, Oil Gain, Energy/Retail Sector Strength

Broad Equity Market Tone:
  • Advance/Decline Line: Higher
  • Sector Performance: Almost Every Sector Rising
  • Volume: Above Average
  • Market Leading Stocks: Performing In Line
Equity Investor Angst:
  • Volatility(VIX) 10.16 +2.8%
  • Euro/Yen Carry Return Index 140.78 +.92%
  • Emerging Markets Currency Volatility(VXY) 7.53 +1.07%
  • S&P 500 Implied Correlation 31.71 -8.81%
  • ISE Sentiment Index 107.0 -2.73
  • Total Put/Call .72 unch.
  • NYSE Arms .61 -11.1%
Credit Investor Angst:
  • North American Investment Grade CDS Index 46.63 -.43%
  • America Energy Sector High-Yield CDS Index 321.0 -2.57%
  • European Financial Sector CDS Index 42.58 -1.09%
  • Italian/German 10Y Yld Spread 140.25 -6.75 basis points
  • Asia Pacific Sovereign Debt CDS Index 10.13 -2.83%
  • Emerging Market CDS Index 109.48 -1.12%
  • iBoxx Offshore RMB China Corporate High Yield Index 146.44 -.08%
  • 2-Year Swap Spread 19.25 +.25 basis point
  • TED Spread 28.0 -.5 basis point
  • 3-Month EUR/USD Cross-Currency Basis Swap -23.0 +3.25 basis points
Economic Gauges:
  • Bloomberg Emerging Markets Currency Index 75.52 +.47%
  • 3-Month T-Bill Yield 1.44% +1.0 basis point
  • Yield Curve 55.0 -.75 basis point
  • China Iron Ore Spot 511.50 CNY/100 Metric Tonnes -.2%
  • Citi US Economic Surprise Index 70.40 +7.2 points
  • Citi Eurozone Economic Surprise Index 58.30 -1.4 basis points
  • Citi Emerging Markets Economic Surprise Index 6.4 +6.6 basis points
  • 10-Year TIPS Spread 2.02 unch.
  • 85.2% chance of Fed rate hike at March 21 meeting, 85.6% chance at May 2 meeting
Overseas Futures:
  • Nikkei 225 Futures: Indicating +157 open in Japan 
  • China A50 Futures: Indicating +76 open in China
  • DAX Futures: Indicating -8 open in Germany
Portfolio: 
  • Higher: On gains in my medical/biotech/retail/tech sector longs
  • Disclosed Trades: None
  • Market Exposure: 100% Net Long

No comments: