Wednesday, January 03, 2018

Stocks Surging into Final Hour on Economic Optimism, Oil Gain, Technical Buying, Energy/Homebuilding Sector Strength

Broad Equity Market Tone:
  • Advance/Decline Line: Higher
  • Sector Performance: Most Sectors Rising
  • Volume: Above Average
  • Market Leading Stocks: Performing In Line
Equity Investor Angst:
  • Volatility(VIX) 9.06 -7.3%
  • Euro/Yen Carry Return Index 140.88 -.22%
  • Emerging Markets Currency Volatility(VXY) 7.86 -1.01%
  • S&P 500 Implied Correlation 34.38 -3.59%
  • ISE Sentiment Index 111.0 +3.74%
  • Total Put/Call .86 +.1%
  • NYSE Arms .88 +52.6%
Credit Investor Angst:
  • North American Investment Grade CDS Index 47.24 -2.68%
  • America Energy Sector High-Yield CDS Index 359.0 -4.05%
  • European Financial Sector CDS Index 43.07 -2.91%
  • Western Europe Sovereign Debt CDS Index 3.96 n/a
  • Asia Pacific Sovereign Debt CDS Index 12.70 -.35%
  • Emerging Market CDS Index 115.21 -1.50%
  • iBoxx Offshore RMB China Corporate High Yield Index 146.23 +.04%
  • 2-Year Swap Spread 18.25 +.25 basis point
  • TED Spread 29.0 +1.75 basis points
  • 3-Month EUR/USD Cross-Currency Basis Swap -20.0 -2.0 basis points
Economic Gauges:
  • Bloomberg Emerging Markets Currency Index 74.92 +.21%
  • 3-Month T-Bill Yield 1.39% -1.0 basis point
  • Yield Curve 51.5 -2.25 basis points
  • China Iron Ore Spot 507.50 CNY/100 Metric Tonnes unch.
  • Citi US Economic Surprise Index 78.20 +6.3 points
  • Citi Eurozone Economic Surprise Index 46.80 +1.0 basis point
  • Citi Emerging Markets Economic Surprise Index -.9 +1.7 points
  • 10-Year TIPS Spread 2.0 -1.0 basis point
  • 76.5% chance of Fed rate hike at March 21 meeting, 78.0% chance at May 2 meeting
Overseas Futures:
  • Nikkei 225 Futures: Indicating +421 open in Japan 
  • China A50 Futures: Indicating +115 open in China
  • DAX Futures: Indicating +22 open in Germany
Portfolio: 
  • Higher: On gains in my medical/biotech/tech/retail sector longs
  • Disclosed Trades: None
  • Market Exposure: 100% Net Long

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