Broad Equity Market Tone:
- Advance/Decline Line: Higher
- Sector Performance: Almost Every Sector Rising
- Volume: Above Average
- Market Leading Stocks: Performing In Line
Equity Investor Angst:
- Volatility(VIX) 14.6 +2.0%
- Euro/Yen Carry Return Index 125.82 -.19%
- Emerging Markets Currency Volatility(VXY) 8.39 +.6%
- S&P 500 Implied Correlation 35.73 -6.1%
- ISE Sentiment Index 146.0 +128.1%
- Total Put/Call .82 -6.8%
- NYSE Arms .73 -34.2%
Credit Investor Angst:
- North American Investment Grade CDS Index 54.32 -2.53%
- America Energy Sector High-Yield CDS Index 621.0 -1.88%
- European Financial Sector CDS Index 67.58 -.18%
- Italian/German 10Y Yld Spread 246.75 +2.75 basis points
- Asia Ex-Japan Investment Grade CDS Index 65.04 -7.37%
- Emerging Market CDS Index 171.60 -2.61%
- iBoxx Offshore RMB China Corporate High Yield Index 163.57 -.09%
- 2-Year Swap Spread 2.75 unch.
- TED Spread 23.0 +.75 basis point
- 3-Month EUR/USD Cross-Currency Basis Swap -11.75 -.25 basis point
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 67.37 +.66%
- 3-Month T-Bill Yield 2.12% -5.0 basis points
- Yield Curve 27.0 +.25 basis point
- China Iron Ore Spot 111.73 USD/Metric Tonne +2.9%
- Citi US Economic Surprise Index -61.60 -1.3 points
- Citi Eurozone Economic Surprise Index -15.3 +.1 point
- Citi Emerging Markets Economic Surprise Index -31.20 +.3 point
- 10-Year TIPS Spread 1.75 +7.0 basis points
- 100.0% chance of Fed rate cut at Sept. 18th meeting, 100.0% chance of cut at October 30th meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating -32 open in Japan
- China A50 Futures: Indicating +36 open in China
- DAX Futures: Indicating +10 open in Germany
Portfolio:
- Higher: On gains in my tech/biotech/medical/industrial sector longs
- Disclosed Trades: Added to my (IWM)/(QQQ) hedges, then covered some
- Market Exposure: 100% Net Long
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