Wednesday, June 02, 2021

Stocks Higher into Final Hour on Economic Optimism, Oil Gain, Short-Covering, Energy/Tech Sector Strength

Broad Equity Market Tone:

  • Advance/Decline Line: Lower
  • Sector Performance: Mixed
  • Volume: Above Average
  • Market Leading Stocks: Underperforming
Equity Investor Angst:
  • Volatility(VIX) 17.5 -2.4%
  • Bloomberg Global Risk On/Risk Off Index 3,485.0 +14.0 points
  • Euro/Yen Carry Return Index 138.24 +.04%
  • Emerging Markets Currency Volatility(VXY) 9.1 +.33%
  • S&P 500 Implied Correlation 50.4 +4.3%
  • ISE Sentiment Index 185.0  +72.0 points
  • Total Put/Call .66 unch.
  • NYSE Arms .58 -19.4%
Credit Investor Angst:
  • North American Investment Grade CDS Index 50.09 +.01%
  • US Energy High-Yield OAS 424.47 -.76%
  • European Financial Sector CDS Index 57.34 -.1%
  • Italian/German 10Y Yld Spread 108.0 unch.
  • Asia Ex-Japan Investment Grade CDS Index 86.25 +.23%
  • Emerging Market CDS Index 157.04 -.64%
  • China Corp. High-Yield Bond USD ETF(KCCB) 39.35 +.54%
  • 2-Year Swap Spread 8.25 -.5 basis point
  • TED Spread 11.75 -.75 basis point
  • 3-Month EUR/USD Cross-Currency Basis Swap -2.75 -1.25 basis points
  • MBS  5/10 Treasury Spread  64.75 +1.25 basis points
  • IHS Markit CMBX BBB- 6 72.0 unch.
Economic Gauges:
  • Bloomberg Emerging Markets Currency Index 61.67 +.26%
  • 3-Month T-Bill Yield .01% unch.
  • Yield Curve 146.0 -1.0 basis point
  • China Iron Ore Spot 196.50 USD/Metric Tonne -2.1%
  • Citi US Economic Surprise Index 9.2 +.4 point
  • Citi Eurozone Economic Surprise Index 151.0 -5.4 points
  • Citi Emerging Markets Economic Surprise Index 59.50 -.4 point
  • 10-Year TIPS Spread 2.46 -1.0 basis point
  • 93.0% chance of no change at Sept. 22nd meeting, 93.0% chance of no change at Nov. 3rd meeting
Overseas Futures:
  • Nikkei 225 Futures: Indicating -66 open in Japan 
  • China A50 Futures: Indicating +65 open in China
  • DAX Futures: Indicating -14 open in Germany
Portfolio:
  • Slightly Higher: On gains in my technology/commodity sector longs
  • Disclosed Trades: None
  • Market Exposure: 100% Net Long

No comments: