Broad Equity Market Tone:
- Advance/Decline Line: Higher
- Sector Performance: Mixed
- Volume: Below Average
- Market Leading Stocks: Performing In Line
Equity Investor Angst:
- Volatility(VIX) 13.9 +.2%
- Euro/Yen Carry Return Index 123.89 -.24%
- Emerging Markets Currency Volatility(VXY) 8.23 +.61%
- S&P 500 Implied Correlation 36.6 +2.2%
- ISE Sentiment Index 89.0 unch.
- Total Put/Call 1.28 +26.7%
- NYSE Arms 1.55 +7.64%
Credit Investor Angst:
- North American Investment Grade CDS Index 51.23 +.31%
- America Energy Sector High-Yield CDS Index 383.0 +4.02%
- European Financial Sector CDS Index 56.72 -1.78%
- Italian/German 10Y Yld Spread 139.25 +.75 basis point
- Asia Ex-Japan Investment Grade CDS Index 53.5 -.68%
- Emerging Market CDS Index 201.60 -.97%
- iBoxx Offshore RMB China Corporate High Yield Index 165.63 unch.
- 2-Year Swap Spread -4.75 -1.5 basis points
- TED Spread 24.75 +3.75 basis points
- 3-Month EUR/USD Cross-Currency Basis Swap -7.25 +3.75 basis points
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 65.79 -.11%
- 3-Month T-Bill Yield 1.94% unch.
- Yield Curve .03 -5.0 basis points
- China Iron Ore Spot 87.88 USD/Metric Tonne -3.81%
- Citi US Economic Surprise Index 41.30 +3.5 points
- Citi Eurozone Economic Surprise Index -27.0 +.7 point
- Citi Emerging Markets Economic Surprise Index -9.1 -.5 point
- 10-Year TIPS Spread 1.60 unch.
- 72.7% chance of Fed rate cut at Dec. 11th meeting, 84.2% chance of cut at Jan. 29th meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating -21 open in Japan
- China A50 Futures: Indicating +26 open in China
- DAX Futures: Indicating -6 open in Germany
Portfolio:
- Higher: On gains in my tech/medical/biotech sector longs
- Disclosed Trades: None
- Market Exposure: 100% Net Long
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