Wednesday, February 05, 2014

Stocks Lower into Final Hour on Rising Global Growth Fears, Yen Strength, Earnings Concerns, Energy/Biotech Sector Weakness

Broad Equity Market Tone:
  • Advance/Decline Line: Lower
  • Sector Performance: Mixed
  • Volume: Around Average
  • Market Leading Stocks: Performing In Line
Equity Investor Angst:
  • Volatility(VIX) 19.52 +2.20%
  • Euro/Yen Carry Return Index 143.11 -.13%
  • Emerging Markets Currency Volatility(VXY) 9.68 -1.02%
  • S&P 500 Implied Correlation 59.25 -1.55%
  • ISE Sentiment Index 122.0 -17.57%
  • Total Put/Call 1.01 unch.
  • NYSE Arms .90 +27.42% 
Credit Investor Angst:
  • North American Investment Grade CDS Index 72.98 +.07%
  • European Financial Sector CDS Index 99.37 -2.33%
  • Western Europe Sovereign Debt CDS Index 55.0 -1.22%
  • Asia Pacific Sovereign Debt CDS Index 114.19 -2.26%
  • Emerging Market CDS Index 331.72 unch.
  • 2-Year Swap Spread 12.75 -.5 basis point
  • TED Spread 18.0 -.5 basis point
  • 3-Month EUR/USD Cross-Currency Basis Swap -7.0 -1.0 basis point
Economic Gauges:
  • 3-Month T-Bill Yield .06% +1.0 basis point
  • Yield Curve 235.0 +4.0 basis points
  • China Import Iron Ore Spot $122.40/Metric Tonne -.16%
  • Citi US Economic Surprise Index 30.30 -.8 point
  • Citi Emerging Markets Economic Surprise Index 10.20 -.8 point
  • 10-Year TIPS Spread 2.12 unch.
Overseas Futures:
  • Nikkei Futures: Indicating +38 open in Japan
  • DAX Futures: Indicating +18 open in Germany
Portfolio: 
  • Slightly Higher: On gains in my tech/medical sector longs and index hedges
  • Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges and some of my (EEM) short
  • Market Exposure: Moved to 75% Net Long

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