Wednesday, October 03, 2018

Stocks Slightly Higher into Final Hour on Economic Optimism, Less Eurozone Debt Angst, Yen Weakness, Financial/Energy Sector Strength

 Broad Equity Market Tone:
  • Advance/Decline Line: Higher
  • Sector Performance: Mixed
  • Volume: Above Average
  • Market Leading Stocks:  Outperforming
Equity Investor Angst:
  • Volatility(VIX) 11.89 -1.33%
  • Euro/Yen Carry Return Index 136.90 +.27%
  • Emerging Markets Currency Volatility(VXY) 10.25 -.10%
  • S&P 500 Implied Correlation 34.17 -.81%
  • ISE Sentiment Index 123.0 -1.6%
  • Total Put/Call .85 +7.59%
  • NYSE Arms .67 -8.23%
Credit Investor Angst:
  • North American Investment Grade CDS Index 59.02 +.06%
  • America Energy Sector High-Yield CDS Index 377.0 -8.28%
  • European Financial Sector CDS Index 84.90 -3.81%
  • Italian/German 10Y Yld Spread 283.75 -19.25 basis points
  • Asia Pacific Sovereign Debt CDS Index 9.21 +1.54%
  • Emerging Market CDS Index 194.58 +1.05%
  • iBoxx Offshore RMB China Corporate High Yield Index 150.71 +.03%
  • 2-Year Swap Spread 16.25 -1.0 basis point
  • TED Spread 17.5 -1.25 basis points
  • 3-Month EUR/USD Cross-Currency Basis Swap -39.75 +1.75 basis points
Economic Gauges:
  • Bloomberg Emerging Markets Currency Index 66.52 -.36%
  • 3-Month T-Bill Yield 2.22% +1.0 basis point
  • Yield Curve 29.5 +5.25 basis points
  • China Iron Ore Spot 68.31 USD/Metric Tonne +.01%
  • Citi US Economic Surprise Index 8.8 +16.5 points
  • Citi Eurozone Economic Surprise Index -34.0 -4.7 points
  • Citi Emerging Markets Economic Surprise Index -9.9 +.9 point
  • 10-Year TIPS Spread 2.17 +4.0 basis points
  • 71.0% chance of Fed rate hike at Dec. 19th meeting, 72.8% chance at Jan. 30th meeting
Overseas Futures:
  • Nikkei 225 Futures: Indicating +200 open in Japan 
  • China A50 Futures: Indicating -241 open in China
  • DAX Futures: Indicating -15 open in Germany
Portfolio: 
  • Higher: On gains in my retail/biotech/industrial/tech sector longs and emerging market shorts
  • Disclosed Trades: None
  • Market Exposure: 75% Net Long

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