Broad Equity Market Tone:
- Advance/Decline Line: Substantially Higher
- Sector Performance: Almost Every Sector Rising
- Volume: Around Average
- Market Leading Stocks: Outperforming
Equity Investor Angst:
- Volatility(VIX) 18.39 -3.31%
- Euro/Yen Carry Return Index 134.30 +.54%
- Emerging Markets Currency Volatility(VXY) 10.08 -.88%
- S&P 500 Implied Correlation 44.39 -3.42%
- ISE Sentiment Index 100.0 +9.89%
- Total Put/Call .86 -2.27%
- NYSE Arms .74 -3.9%
Credit Investor Angst:
- North American Investment Grade CDS Index 75.29 -4.51%
- America Energy Sector High-Yield CDS Index 693.0 -1.18%
- European Financial Sector CDS Index 103.03 +.48%
- Italian/German 10Y Yld Spread 290.75 -3.25 basis points
- Asia Pacific Sovereign Debt CDS Index 10.30 -.87%
- Emerging Market CDS Index 209.70 -4.39%
- iBoxx Offshore RMB China Corporate High Yield Index 147.30 +.37%
- 2-Year Swap Spread 17.5 -.25 basis point
- TED Spread 31.75 +2.0 basis points
- 3-Month EUR/USD Cross-Currency Basis Swap -21.5 +3.75 basis points
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 67.19 +.43%
- 3-Month T-Bill Yield 2.38% -1.0 basis point
- Yield Curve 24.5 +1.75 basis points
- China Iron Ore Spot 63.91 USD/Metric Tonne +.53%
- Citi US Economic Surprise Index -4.9 -3.5 points
- Citi Eurozone Economic Surprise Index -62.90 +.8 point
- Citi Emerging Markets Economic Surprise Index -6.0 +.6 point
- 10-Year TIPS Spread 1.95 +3.0 basis points
- 80.9% chance of Fed rate hike at Jan. 30th meeting, 90.0% chance at March 20th meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating +202 open in Japan
- China A50 Futures: Indicating +106 open in China
- DAX Futures: Indicating +82 open in Germany
Portfolio:
- Higher: On gains in my biotech/industrial/retail/tech/medical sector longs
- Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges
- Market Exposure: Moved to 100% Net Long
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