Monday, August 05, 2013

Stocks Slightly Lower into Final Hour on Rising Long-Term Rates, Technical Selling, Global Growth Worries, Homebuilding/Transport Sector Weakness

Click Here for Today's Market Take.

Broad Equity Market Tone:
  • Advance/Decline Line: Slightly Higher
  • Sector Performance: Mixed
  • Volume: Light
  • Market Leading Stocks: Underperforming
Equity Investor Angst:
  • Volatility(VIX) 11.96 -.17%
  • Euro/Yen Carry Return Index 135.87 -.84%
  • Emerging Markets Currency Volatility(VXY) 9.30 -2.92%
  • S&P 500 Implied Correlation 46.05 -1.58%
  • ISE Sentiment Index 95.0 -29.10%
  • Total Put/Call .87 -1.14%
  • NYSE Arms .79 -20.27% 
Credit Investor Angst:
  • North American Investment Grade CDS Index 72.74 +.01%
  • European Financial Sector CDS Index 134.29 -.52%
  • Western Europe Sovereign Debt CDS Index 83.13 -.54%
  • Emerging Market CDS Index 300.96 +1.70%
  • 2-Year Swap Spread 17.75 +.75 bp
  • TED Spread 23.0 -.5 bp
  • 3-Month EUR/USD Cross-Currency Basis Swap -8.75 +.25 bp
Economic Gauges:
  • 3-Month T-Bill Yield .03% unch.
  • Yield Curve 234.0 +4 bps
  • China Import Iron Ore Spot $130.20/Metric Tonne +.08%
  • Citi US Economic Surprise Index 18.80 +7.9 points
  • Citi Emerging Markets Economic Surprise Index -28.10 -2.7 points
  • 10-Year TIPS Spread 2.23 +3 bps
Overseas Futures:
  • Nikkei Futures: Indicating +39 open in Japan
  • DAX Futures: Indicating +4 open in Germany
Portfolio: 
  • Higher: On gains in my tech sector longs and emerging markets shorts
  • Disclosed Trades: Added to my (IWM)/(QQQ) hedges and to my (EEM) short
  • Market Exposure: Moved to 50% Net Long

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