Wednesday, August 08, 2018

Stocks Reversing Higher into Final Hour on Earnings Outlooks, Technical Buying, Short-Covering, Restaurant/Healthcare Sector Strength

 Broad Equity Market Tone:
  • Advance/Decline Line: Around Even
  • Sector Performance: Mixed
  • Volume: Below Average
  • Market Leading Stocks: Performing In Line
Equity Investor Angst:
  • Volatility(VIX) 10.6 -2.9%
  • Euro/Yen Carry Return Index 134.17 -.18%
  • Emerging Markets Currency Volatility(VXY) 10.41 +.29%
  • S&P 500 Implied Correlation 28.33 -.67%
  • ISE Sentiment Index 76.0 -34.48%
  • Total Put/Call 1.01 +9.78%
  • NYSE Arms 1.14 +11.7%
Credit Investor Angst:
  • North American Investment Grade CDS Index 58.03 -.44%
  • America Energy Sector High-Yield CDS Index 359.0 +.70%
  • European Financial Sector CDS Index 78.51 +2.31%
  • Italian/German 10Y Yld Spread 251.50 +5.5 basis points
  • Asia Pacific Sovereign Debt CDS Index 10.17 +.74%
  • Emerging Market CDS Index 175.08 +1.34%
  • iBoxx Offshore RMB China Corporate High Yield Index 150.30 -.01%
  • 2-Year Swap Spread 19.5 -1.25 basis points
  • TED Spread 29.0 -1.25 basis points
  • 3-Month EUR/USD Cross-Currency Basis Swap -6.5 +.25 basis point
Economic Gauges:
  • Bloomberg Emerging Markets Currency Index 69.04 -.38%
  • 3-Month T-Bill Yield 2.05% +1.0 basis point
  • Yield Curve 29.75 -.5 basis point
  • China Iron Ore Spot 69.44 USD/Metric Tonne -.16%
  • Citi US Economic Surprise Index -13.10 -.1 point
  • Citi Eurozone Economic Surprise Index -35.10 +.6 point
  • Citi Emerging Markets Economic Surprise Index -1.80 +1.0 point
  • 10-Year TIPS Spread 2.13 unch.
  • 94.8% chance of Fed rate hike at Nov. 8th meeting, 98.5% chance at Dec. 19th meeting
Overseas Futures:
  • Nikkei 225 Futures: Indicating -19 open in Japan 
  • China A50 Futures: Indicating unch. open in China
  • DAX Futures: Indicating -13 open in Germany
Portfolio: 
  • Slightly Higher: On gains in my tech/retail/medical sector longs
  • Disclosed Trades: None
  • Market Exposure: 100% Net Long

No comments: