Friday, March 14, 2014

Stocks Falling into Final Hour on Russia/Ukraine Tensions, Global Growth Fears, Emerging Markets/European Debt Angst, Healthcare/Homebuilding Sector Weakness

Broad Equity Market Tone:
  • Advance/Decline Line: Modestly Higher
  • Sector Performance: Mixed
  • Volume: Around Average
  • Market Leading Stocks: Underperforming
Equity Investor Angst:
  • Volatility(VIX) 17.42 +7.46%
  • Euro/Yen Carry Return Index 146.93 -.23%
  • Emerging Markets Currency Volatility(VXY) 9.09 +9.68%
  • S&P 500 Implied Correlation 59.17 +3.88%
  • ISE Sentiment Index 92.0 +26.03%
  • Total Put/Call .71 -31.73%
  • NYSE Arms 1.33 -44.64% 
Credit Investor Angst:
  • North American Investment Grade CDS Index 67.35 -.40%
  • European Financial Sector CDS Index 94.84 -.66%
  • Western Europe Sovereign Debt CDS Index 50.01 +2.04%
  • Asia Pacific Sovereign Debt CDS Index 102.34 +.20%
  • Emerging Market CDS Index 328.95 +.54%
  • China Blended Corporate Spread Index 379.16 +1.88%
  • 2-Year Swap Spread 14.25 unch.
  • TED Spread 19.5 +.25 basis point
  • 3-Month EUR/USD Cross-Currency Basis Swap -4.25 +.5 basis point
Economic Gauges:
  • 3-Month T-Bill Yield .04% unch.
  • Yield Curve 230.0 -1.0 basis point
  • China Import Iron Ore Spot $110.10/Metric Tonne -1.26%
  • Citi US Economic Surprise Index -32.70 -2.6 points
  • Citi Emerging Markets Economic Surprise Index -8.0 -5.8 points
  • 10-Year TIPS Spread 2.18 +1.0 basis point
Overseas Futures:
  • Nikkei Futures: Indicating -120 open in Japan
  • DAX Futures: Indicating -23 open in Germany
Portfolio: 
  • Slightly Lower: On losses in my tech sector longs and emerging markets shorts
  • Disclosed Trades: None
  • Market Exposure: 25% Net Long

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