Monday, December 31, 2018

Stocks Higher into Final Hour on China Trade Deal Hopes, Technical Buying, Bargain-Hunting, Biotech/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) 26.6 -6.1%
  • Euro/Yen Carry Return Index 130.53 -.48%
  • Emerging Markets Currency Volatility(VXY) 9.73 +.1%
  • S&P 500 Implied Correlation 50.26 unch.
  • ISE Sentiment Index 65.0 -31.6%
  • Total Put/Call 1.02 +32.5%
  • NYSE Arms 1.33 -22.7%
Credit Investor Angst:
  • North American Investment Grade CDS Index 87.79 -.66%
  • America Energy Sector High-Yield CDS Index 802.0 -.84%
  • European Financial Sector CDS Index 109.09 -2.59%
  • Italian/German 10Y Yld Spread 250.0 unch.
  • Asia Pacific Sovereign Debt CDS Index 11.75 unch.
  • Emerging Market CDS Index 208.08 -.30%
  • iBoxx Offshore RMB China Corporate High Yield Index 151.80 +.45%
  • 2-Year Swap Spread 16.5 +2.0 basis points
  • TED Spread 42.75 +1.5 basis points
  • 3-Month EUR/USD Cross-Currency Basis Swap 2.50 +1.0 basis point
Economic Gauges:
  • Bloomberg Emerging Markets Currency Index 67.06 +.257%
  • 3-Month T-Bill Yield 2.35% -2.0 basis points
  • Yield Curve 19.75 -.75 basis point
  • China Iron Ore Spot 71.12 USD/Metric Tonne +1.6%
  • Citi US Economic Surprise Index -23.8 -5.9 points
  • Citi Eurozone Economic Surprise Index -71.8 +1.5 points
  • Citi Emerging Markets Economic Surprise Index -10.6 -2.9 points
  • 10-Year TIPS Spread 1.71 -3.0 basis points
  • 2.0% chance of Fed rate hike at March 20th meeting, 4.0% chance at May 1st meeting
Overseas Futures:
  • Nikkei 225 Futures: Indicating -209 open in Japan 
  • China A50 Futures: Indicating -15 open in China
  • DAX Futures: Indicating n/a open in Germany
Portfolio: 
  • Higher: On gains in my tech/biotech/retail/medical/industrial sector longs
  • Disclosed Trades: None
  • Market Exposure: 75% Net Long

1 comment:

Elstel said...

Informative article, just what I was looking for. European fund for strategic investments