Stocks Rising into Final Hour on Yen Weakness, Seasonality, Investor Performance Angst, Defense/Gaming Sector Strength
Broad Equity Market Tone:
- Advance/Decline Line: About Even
- Sector Performance: Most Sectors Rising
- Market Leading Stocks: Performing In Line
Equity Investor Angst:
- Volatility(VIX) 12.11 -2.96%
- Euro/Yen Carry Return Index 149.61 +.60%
- Emerging Markets Currency Volatility(VXY) 9.04 +.11%
- S&P 500 Implied Correlation 49.27 -2.03%
- ISE Sentiment Index 151.0 -15.17%
Credit Investor Angst:
- North American Investment Grade CDS Index 61.98 -.64%
- European Financial Sector CDS Index 85.23 unch.
- Western Europe Sovereign Debt CDS Index 60.76 +.02%
- Emerging Market CDS Index 267.44 +.17%
- 2-Year Swap Spread 9.75 -.25 basis point
- TED Spread 18.50 +.5 basis point
- 3-Month EUR/USD Cross-Currency Basis Swap -8.0 -6.25 basis points
Economic Gauges:
- 3-Month T-Bill Yield .06% -1 basis point
- China Import Iron Ore Spot $132.10/Metric Tonne +.08%
- Citi US Economic Surprise Index 49.4 +1.0 point
- Citi Emerging Markets Economic Surprise Index -9.70 +.7 point
- 10-Year TIPS Spread 2.20 +1 basis point
Overseas Futures:
- Nikkei Futures: Indicating +115 open in Japan
- DAX Futures: Indicating +2 open in Germany
Portfolio:
- Higher: On gains in my biotech/retail/tech sector longs and emerging markets shorts
- Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges, then added them back
- Market Exposure: 50% Net Long
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