Wednesday, June 05, 2013

Stocks Falling into Final Hour on Rising Global Growth Fears, Rising Eurozone Debt Angst, Margin Selling, Transport/Financial Sector Weakness

Broad Market Tone:
  • Advance/Decline Line: Substantially Lower
  • Sector Performance: Every Sector Declining
  • Volume: Below Average
  • Market Leading Stocks: Underperforming
Equity Investor Angst:
  • VIX 17.42 +7.07%
  • ISE Sentiment Index 68.0 -19.05%
  • Total Put/Call 1.18 +4.42%
  • NYSE Arms 1.62 +32.73%
Credit Investor Angst:
  • North American Investment Grade CDS Index 84.89 +3.68%
  • European Financial Sector CDS Index 156.58 +5.01%
  • Western Europe Sovereign Debt CDS Index 83.50 +3.0%
  • Emerging Market CDS Index 299.25 +4.5%
  • 2-Year Swap Spread 17.0 +.5 bp
  • TED Spread 22.75 -1.0 bp
  • 3-Month EUR/USD Cross-Currency Basis Swap -13.25 +.25 bp
Economic Gauges:
  • 3-Month T-Bill Yield .05% +2 bps
  • Yield Curve 180.0 -4 bps
  • China Import Iron Ore Spot $116.60/Metric Tonne unch.
  • Citi US Economic Surprise Index -29.0 -7.2 points
  • 10-Year TIPS Spread 2.16 -3 bps
Overseas Futures:
  • Nikkei Futures: Indicating -45 open in Japan
  • DAX Futures: Indicating -18 open in Germany
Portfolio: 
  • Slightly Higher: On gains in my index hedges and emerging markets shorts
  • Disclosed Trades: None
  • Market Exposure: 25% Net Long

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