Friday, January 17, 2020

Stocks Rising into Afternoon on Global Growth Optimism, Earnings Outlooks, Technical Buying, Restaurant/Steel Sector Strength

 Broad Equity Market Tone:
  • Advance/Decline Line: Slightly Lower
  • Sector Performance: Mixed
  • Volume: Above Average
  • Market Leading Stocks: Performing In Line
Equity Investor Angst:
  • Volatility(VIX) 12.2 -.97%
  • Euro/Yen Carry Return Index 126.76 -.43%
  • Emerging Markets Currency Volatility(VXY) 6.01 -2.44%
  • S&P 500 Implied Correlation 37.33 -.32%
  • ISE Sentiment Index 99.0 +4
  • Total Put/Call .63 -8.7%
  • NYSE Arms 1.03 +17.1%
Credit Investor Angst:
  • North American Investment Grade CDS Index 43.83 -.7%
  • America Energy Sector High-Yield CDS Index 544.0 -.55%
  • European Financial Sector CDS Index 52.09 +2.79%
  • Italian/German 10Y Yld Spread 159.0 -6.5 basis points
  • Asia Ex-Japan Investment Grade CDS Index 50.80 -2.06%
  • Emerging Market CDS Index 178.59 +.64%
  • iBoxx Offshore RMB China Corporate High Yield Index 169.11 +.09%
  • 2-Year Swap Spread 8.25 +1.25 basis points
  • TED Spread 27.0 2.5 basis points
  • 3-Month EUR/USD Cross-Currency Basis Swap -2.75 +.25 basis point
Economic Gauges:
  • Bloomberg Emerging Markets Currency Index 66.32 -.12%
  • 3-Month T-Bill Yield 1.5% +1.0 basis point
  • Yield Curve .27 +4.0 basis points
  • China Iron Ore Spot 95.0 USD/Metric Tonne +.45%
  • Citi US Economic Surprise Index 10.6 +6.0 points
  • Citi Eurozone Economic Surprise Index 39.70 -.4 point
  • Citi Emerging Markets Economic Surprise Index 2.2 +5.2 basis points
  • 10-Year TIPS Spread 1.75 unch.
  • .8% chance of Fed rate cut at March 18th meeting, 6.7% chance of cut at April 29th meeting
Overseas Futures:
  • Nikkei 225 Futures: Indicating -5 open in Japan 
  • China A50 Futures: Indicating +66 open in China
  • DAX Futures: Indicating -7 open in Germany
Portfolio:
  • Slightly Higher: On gains in my tech/medical sector longs
  • Disclosed Trades: Nonee
  • Market Exposure: 100% Net Long

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