Tuesday, November 12, 2019

Stocks Slightly Higher into Final Hour on Earnings Optimism, China Trade Deal Hopes, Technical Buying, Medical/Homebuilding Sector Strength

 Broad Equity Market Tone:
  • Advance/Decline Line: About Even
  • Sector Performance: Mixed
  • Volume: Around Average
  • Market Leading Stocks: Performing In Line
Equity Investor Angst:
  • Volatility(VIX) 12.8 +1.2%
  • Euro/Yen Carry Return Index 124.53 -.29%
  • Emerging Markets Currency Volatility(VXY) 7.25 -.55%
  • S&P 500 Implied Correlation 30.15 +.9%
  • ISE Sentiment Index 102.0 +4
  • Total Put/Call .89 -3.3%
  • NYSE Arms 1.51 +36.0%
Credit Investor Angst:
  • North American Investment Grade CDS Index 51.69 +.44%
  • America Energy Sector High-Yield CDS Index 543.0 +2.34%
  • European Financial Sector CDS Index 57.09 -1.97%
  • Italian/German 10Y Yld Spread 147.0 -3.5 basis points
  • Asia Ex-Japan Investment Grade CDS Index 63.55 -.8%
  • Emerging Market CDS Index 197.76 +2.31%
  • iBoxx Offshore RMB China Corporate High Yield Index 167.65 -.01%
  • 2-Year Swap Spread 4.0 -.25 basis point
  • TED Spread 34.75 -1.0 basis point
  • 3-Month EUR/USD Cross-Currency Basis Swap -17.0 -.75 basis point
Economic Gauges:
  • Bloomberg Emerging Markets Currency Index 65.48 -.51%
  • 3-Month T-Bill Yield 1.56% +2.0 basis points
  • Yield Curve .25 +1.0 basis point
  • China Iron Ore Spot 79.03 USD/Metric Tonne +2.1%
  • Citi US Economic Surprise Index 5.0 unch.
  • Citi Eurozone Economic Surprise Index -16.40 +6.4 points
  • Citi Emerging Markets Economic Surprise Index -21.50 +.6 basis point
  • 10-Year TIPS Spread 1.71 -2.0 basis points
  • 21.4% chance of Fed rate cut at Jan. 29th meeting, 34.0% chance of cut at March 18th meeting
Overseas Futures:
  • Nikkei 225 Futures: Indicating -60 open in Japan 
  • China A50 Futures: Indicating -47 open in China
  • DAX Futures: Indicating -23 open in Germany
Portfolio:
  • Slightly Higher: On gains in my tech sector longs
  • Disclosed Trades: None
  • Market Exposure: 100% Net Long

No comments: