Stocks Falling Substantially into Final Hour on Global Virus Shutdown Worries, Earnings Outlook Concerns, Oil Plunge, Commodity/Financial Sector Weakness

Broad Equity Market Tone:

• Advance/Decline Line: Substantially Lower
  

• Sector Performance: Almost Every Sector Declining
  

• Volume: Above Average

• Market Leading Stocks: Performing Inline
  

Equity Investor Angst:

• Volatility(VIX) 24.5 +32.6%
• Bloomberg Global Risk On/Risk Off Index 2,243.0 -622.0 points

• Euro/Yen Carry Return Index 133.37 -.60%

• Emerging Markets Currency Volatility(VXY) 8.7 +2.7%

• S&P 500 Implied Correlation 54.3 +3.4%

• ISE Sentiment Index 80.0  -8.0 points
  

• Total Put/Call 1.0 -.99%

• NYSE Arms 1.42 -12.9%

Credit Investor Angst:

• North American Investment Grade CDS Index 52.21 +4.44%
  

• US Energy High-Yield OAS 434.68 +6.0%

• European Financial Sector CDS Index 56.41 +.28%

• Italian/German 10Y Yld Spread 110.0 +4.0 basis points
  

• Asia Ex-Japan Investment Grade CDS Index 85.20 +.9%
  

• Emerging Market CDS Index 167.26 +3.5%
  

• China Corp. High-Yield Bond USD ETF(KCCB) 38.89 -.35%

• 2-Year Swap Spread 6.75 -1.25 basis points

• TED Spread 9.0 -.25 basis point
  

• 3-Month EUR/USD Cross-Currency Basis Swap -4.5 -.5 basis point
  
• MBS  5/10 Treasury Spread  73.0 +1.75 basis points
  
• IHS Markit CMBX BBB- 6 73.75 unch.
  

Economic Gauges:

• Bloomberg Emerging Markets Currency Index 59.66 -.75%
• 3-Month T-Bill Yield .04% unch.
  

• Yield Curve 106.0 -3.0 basis points
  

• China Iron Ore Spot 210.9 USD/Metric Tonne -1.25%

• Citi US Economic Surprise Index 17.6 -2.3 points

• Citi Eurozone Economic Surprise Index 67.4 -6.6 points
  

• Citi Emerging Markets Economic Surprise Index 59.2 -4.5 points

• 10-Year TIPS Spread 2.28 -6.0 basis points
• 100.0% chance of no change at Nov. 3rd meeting, 100.0% chance of no change at Dec. 15th meeting

US Covid-19:

• 68 infections/100K people(last 7 days) +1/100K people
• 13% of Jan. 7th, 2021 peak(highest daily avg. new infections) unch.

Overseas Futures:

• Nikkei 225 Futures: Indicating -507 open in Japan 
• China A50 Futures: Indicating -169 open in China

• DAX Futures: Indicating -52 open in Germany

Portfolio:

• Slightly Lower: On losses in my commodity/tech/industrial/medical sector longs
  

• Disclosed Trades: Took profits in my commodity sector longs and added to my tech sector longs
  

• Market Exposure: 50% Net Long