Broad Equity Market Tone:
- Advance/Decline Line: Substantially Higher
- Sector Performance: Almost Every Sector Rising
- Volume: Around Average
- Market Leading Stocks: Outperforming
Equity Investor Angst:
- Volatility(VIX) 13.6 -6.6%
- Euro/Yen Carry Return Index 124.70 +.5%
- Emerging Markets Currency Volatility(VXY) 7.89 -1.38%
- S&P 500 Implied Correlation 32.7 -6.6%
- ISE Sentiment Index 148.0 +64.4%
- Total Put/Call 1.02 -14.3%
- NYSE Arms .72 -39.5%
Credit Investor Angst:
- North American Investment Grade CDS Index 56.07 -.96%
- America Energy Sector High-Yield CDS Index 500.0 +.28%
- European Financial Sector CDS Index 60.25 -4.32%
- Italian/German 10Y Yld Spread 135.50 -1.5 basis points
- Asia Ex-Japan Investment Grade CDS Index 73.90 -1.85%
- Emerging Market CDS Index 201.57 -1.85%
- iBoxx Offshore RMB China Corporate High Yield Index 166.54 +.04%
- 2-Year Swap Spread 4.25 -1.75 basis points
- TED Spread 35.5 +1.5 basis points
- 3-Month EUR/USD Cross-Currency Basis Swap -14.0 unch.
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 65.49 -.1%
- 3-Month T-Bill Yield 1.66% unch.
- Yield Curve .15+1.0 basis point
- China Iron Ore Spot 87.15 USD/Metric Tonne +1.81%
- Citi US Economic Surprise Index 15.90 +.7 point
- Citi Eurozone Economic Surprise Index -71.6 +3.4 points
- Citi Emerging Markets Economic Surprise Index -19.60 +.3 point
- 10-Year TIPS Spread 1.57 +1.0 basis point
- 81.5% chance of Fed rate cut at Dec. 11th meeting, 86.6% chance of cut at Jan. 29th meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating +378 open in Japan
- China A50 Futures: Indicating +46 open in China
- DAX Futures: Indicating +17 open in Germany
Portfolio:
- Higher: On gains in my tech/biotech/retail/medical/industrial sector longs
- Disclosed Trades: None
- Market Exposure: 100% Net Long
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