Broad Equity Market Tone:
- Advance/Decline Line: Lower
- Sector Performance: Mixed
- Volume: Around Average
- Market Leading Stocks: Performing In Line
Equity Investor Angst:
- Volatility(VIX) 14.3 +3.5%
- Euro/Yen Carry Return Index 125.69 +.16%
- Emerging Markets Currency Volatility(VXY) 7.76 -.89%
- S&P 500 Implied Correlation 33.65 -.03%
- ISE Sentiment Index 75.0 +34.1%
- Total Put/Call .96 +6.67%
- NYSE Arms .93 -13.1%
Credit Investor Angst:
- North American Investment Grade CDS Index 55.50 -.58%
- America Energy Sector High-Yield CDS Index 486.0 +1.06%
- European Financial Sector CDS Index 59.97 -1.7%
- Italian/German 10Y Yld Spread 130.75 +1.0 basis point
- Asia Ex-Japan Investment Grade CDS Index 70.71 -1.6%
- Emerging Market CDS Index 201.17 -.29%
- iBoxx Offshore RMB China Corporate High Yield Index 166.69 +.01%
- 2-Year Swap Spread 4.75 +.25 basis point
- TED Spread 30.5 -4.25 basis points
- 3-Month EUR/USD Cross-Currency Basis Swap -20.25 -2.5 basis points
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 66.04 +.42%
- 3-Month T-Bill Yield 1.66% unch.
- Yield Curve .17+1.0 basis point
- China Iron Ore Spot 82.69 USD/Metric Tonne +.18%
- Citi US Economic Surprise Index 8.0 -.2 point
- Citi Eurozone Economic Surprise Index -67.0 +1.8 points
- Citi Emerging Markets Economic Surprise Index -19.60 unch.
- 10-Year TIPS Spread 1.60 +2.0 basis points
- 91.3% chance of Fed rate cut at Dec. 11th meeting, 94.0% chance of cut at Jan. 29th meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating +37 open in Japan
- China A50 Futures: Indicating -9 open in China
- DAX Futures: Indicating +12 open in Germany
Portfolio:
- Slightly Lower: On losses in my industrial/tech sector longs
- Disclosed Trades: None
- Market Exposure: 100% Net Long
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