Monday, September 10, 2018

Stocks Mostly Higher into Final Hour on Less European Debt Angst, Economic Optimism, Technical Buying, Transport/Gaming Sector Strength

 Broad Equity Market Tone:
  • Advance/Decline Line: Slightly Higher
  • Sector Performance: Mixed
  • Volume: Below Average
  • Market Leading Stocks: Performing In Line
Equity Investor Angst:
  • Volatility(VIX) 14.10%
  • Euro/Yen Carry Return Index 134.11 +.47%
  • Emerging Markets Currency Volatility(VXY) 12.91 +.16%
  • S&P 500 Implied Correlation 29.34 -7.06%
  • ISE Sentiment Index 107.0 -4.46%
  • Total Put/Call 1.17 +.86%
  • NYSE Arms 1.32 +88.4%
Credit Investor Angst:
  • North American Investment Grade CDS Index 57.84 -3.35%
  • America Energy Sector High-Yield CDS Index 418.0 -.57%
  • European Financial Sector CDS Index 71.04 -5.25%
  • Italian/German 10Y Yld Spread 264.75 -5.5 basis points
  • Asia Pacific Sovereign Debt CDS Index 12.75 +1.84%
  • Emerging Market CDS Index 229.27 +1.19%
  • iBoxx Offshore RMB China Corporate High Yield Index 151.42 unch.
  • 2-Year Swap Spread 18.75 -.25 basis point
  • TED Spread 19.75 unch.
  • 3-Month EUR/USD Cross-Currency Basis Swap -11.75 -.5 basis point
Economic Gauges:
  • Bloomberg Emerging Markets Currency Index 65.17 -.28%
  • 3-Month T-Bill Yield 2.12% -1.0 basis point
  • Yield Curve 22.5 -1.25 basis points
  • China Iron Ore Spot 67.17 USD/Metric Tonne -1.18%
  • Citi US Economic Surprise Index -4.8 -1.2 points
  • Citi Eurozone Economic Surprise Index -4.3 -.4 point
  • Citi Emerging Markets Economic Surprise Index -4.40 +2.1 points
  • 10-Year TIPS Spread 2.10 -1.0 basis point
  • 96.4% chance of Fed rate hike at Nov. 8th meeting, 99.1% chance at Dec. 19th meeting
Overseas Futures:
  • Nikkei 225 Futures: Indicating -48 open in Japan 
  • China A50 Futures: Indicating +3 open in China
  • DAX Futures: Indicating +9 open in Germany
Portfolio: 
  • Higher: On gains in my industrial/retail/tech/medical sector longs
  • Disclosed Trades: None
  • Market Exposure: 75% Net Long

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