Broad Equity Market Tone:
- Advance/Decline Line: Substantially Higher
- Sector Performance: Most Sectors Rising
- Volume: Around Average
- Market Leading Stocks: Performing In Line
Equity Investor Angst:
- Volatility(VIX) 13.8 +.58%
- Euro/Yen Carry Return Index 125.50 +.38%
- Emerging Markets Currency Volatility(VXY) 7.86 -.76%
- S&P 500 Implied Correlation 33.40 +2.33%
- ISE Sentiment Index 56.0 -52.1%
- Total Put/Call .94 +1.08%
- NYSE Arms 1.03 -13.45%
Credit Investor Angst:
- North American Investment Grade CDS Index 55.79 -.55%
- America Energy Sector High-Yield CDS Index 482.0 -.31%
- European Financial Sector CDS Index 61.0 +4.19%
- Italian/German 10Y Yld Spread 129.75 -1.75 basis points
- Asia Ex-Japan Investment Grade CDS Index 71.79 -1.43%
- Emerging Market CDS Index 201.75 -1.28%
- iBoxx Offshore RMB China Corporate High Yield Index 166.68 +.06%
- 2-Year Swap Spread 4.5 +.25 basis point
- TED Spread 34.75 -.25 basis point
- 3-Month EUR/USD Cross-Currency Basis Swap -17.75 -3.25 basis points
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 65.76 +.37%
- 3-Month T-Bill Yield 1.66% unch.
- Yield Curve .16 unch.
- China Iron Ore Spot 82.65 USD/Metric Tonne -.19%
- Citi US Economic Surprise Index 8.20 -5.4 points
- Citi Eurozone Economic Surprise Index -68.8 +1.5 points
- Citi Emerging Markets Economic Surprise Index -19.60 +.2 point
- 10-Year TIPS Spread 1.58 +1.0 basis point
- 87.8% chance of Fed rate cut at Dec. 11th meeting, 91.7% chance of cut at Jan. 29th meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating +102 open in Japan
- China A50 Futures: Indicating +29 open in China
- DAX Futures: Indicating -3 open in Germany
Portfolio:
- Higher: On gains in my retail/industrial/biotech/medical sector longs
- Disclosed Trades: None
- Market Exposure: 100% Net Long
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