Wednesday, August 14, 2013

Stocks Lower into Final Hour on Rising Mid-East Urest, Emerging Markets Debt Angst, Rate Concerns, Homebuilding/Transport Sector Weakness

Click Here for Today's Market Take.

Broad Equity Market Tone:
  • Advance/Decline Line: Lower
  • Sector Performance: Most Sectors Declining
  • Volume: Below Average
  • Market Leading Stocks: Underperforming
Equity Investor Angst:
  • Volatility(VIX) 12.89 +4.71%
  • Euro/Yen Carry Return Index 135.60 -.17%
  • Emerging Markets Currency Volatility(VXY) 9.38 +.32%
  • S&P 500 Implied Correlation 49.14 +2.48%
  • ISE Sentiment Index 148.0 +21.31%
  • Total Put/Call .80 +5.26%
  • NYSE Arms .74 -15.93% 
Credit Investor Angst:
  • North American Investment Grade CDS Index 75.34 +.07%
  • European Financial Sector CDS Index 133.83 -.29%
  • Western Europe Sovereign Debt CDS Index 82.50 +.61%
  • Emerging Market CDS Index 300.51 +2.50%
  • 2-Year Swap Spread 17.75 -.5 bps
  • TED Spread 21.75  unch.
  • 3-Month EUR/USD Cross-Currency Basis Swap -8.75 unch.
Economic Gauges:
  • 3-Month T-Bill Yield .05% unch.
  • Yield Curve 231.0 -1 bp
  • China Import Iron Ore Spot $142.80/Metric Tonne +.71%
  • Citi US Economic Surprise Index 39.0 -1.2 points
  • Citi Emerging Markets Economic Surprise Index -29.20 +.4 point
  • 10-Year TIPS Spread 2.22 -3 bps
Overseas Futures:
  • Nikkei Futures: Indicating -130 open in Japan
  • DAX Futures: Indicating +5 open in Germany
Portfolio: 
  • Slightly Lower: On losses in my retail/tech/medical/biotech sector longs
  • Disclosed Trades: Added to my (IWM)/(QQQ) hedges
  • Market Exposure: Moved to 25% Net Long

1 comment:

theyenguy said...

On Wednesday, August 14, 2013, Yield bearing sectors such as those seen in this Finviz Screener, led World Stocks, VT, lower; these included Homebuilders, ITB, Utilities, XLU, Water Resources, PHO, Telecom, IST, and Dividend Growth, VIG.

An ever increasing Interest Rate on the US Ten Year Note, ^TNX, is not condusive with sustaining or growing dividends.