Thursday, January 02, 2020

Stocks Surging into Final Hour on Global Growth Optimism, China Stimulus, Technical Buying, Tech/Industrial Sector Strength

 Broad Equity Market Tone:
  • Advance/Decline Line: Slightly Higher
  • Sector Performance: Mixed
  • Volume: Around Average
  • Market Leading Stocks: Performing In Line
Equity Investor Angst:
  • Volatility(VIX) 12.6 -8.5%
  • Euro/Yen Carry Return Index 125.84 -.64%
  • Emerging Markets Currency Volatility(VXY) 6.58 -.6%
  • S&P 500 Implied Correlation 40.38 -6.53%
  • ISE Sentiment Index 108.0 +16
  • Total Put/Call .78 -20.4%
  • NYSE Arms 1.35 +16.7%
Credit Investor Angst:
  • North American Investment Grade CDS Index 44.32 -2.17%
  • America Energy Sector High-Yield CDS Index 551.0 +.73%
  • European Financial Sector CDS Index 51.87 +.43%
  • Italian/German 10Y Yld Spread 163.75 +4.0 basis points
  • Asia Ex-Japan Investment Grade CDS Index 53.04 +.05%
  • Emerging Market CDS Index 175.72 +1.15%
  • iBoxx Offshore RMB China Corporate High Yield Index 167.52 +.02%
  • 2-Year Swap Spread 10.0 -2.75 basis points
  • TED Spread 36.75 +.25 basis point
  • 3-Month EUR/USD Cross-Currency Basis Swap 4.25 +.5 basis point
Economic Gauges:
  • Bloomberg Emerging Markets Currency Index 66.73 +.03%
  • 3-Month T-Bill Yield 1.53%-1.0 basis point
  • Yield Curve .35+5.0 basis points
  • China Iron Ore Spot 92.58 USD/Metric Tonne +.03%
  • Citi US Economic Surprise Index -3.4 -.3 point
  • Citi Eurozone Economic Surprise Index 33.40 +3.0 points
  • Citi Emerging Markets Economic Surprise Index -10.9 +3.4 basis points
  • 10-Year TIPS Spread 1.80 +1.0 basis point
  • 5.0% chance of Fed rate cut at March 18th meeting, 11.0% chance of cut at April 29th meeting
Overseas Futures:
  • Nikkei 225 Futures: Indicating +19 open in Japan 
  • China A50 Futures: Indicating +114 open in China
  • DAX Futures: Indicating +21 open in Germany
Portfolio:
  • Higher: On gains in my medical/tech/industrial sector longs
  • Disclosed Trades: None
  • Market Exposure: 100% Net Long

No comments: