Monday, April 14, 2014

Stocks Slightly Higher into Final Hour on Yen Weakness, Short-Covering, Bargain-Hunting, Oil Service/Metals & Mining Sector Strength

Broad Equity Market Tone:
  • Advance/Decline Line: Slightly Higher
  • Sector Performance: Most Sectors Rising
  • Volume: Below Average
  • Market Leading Stocks: Performing In Line
Equity Investor Angst:
  • Volatility(VIX) 16.89 -.82%
  • Euro/Yen Carry Return Index 146.69 -.36%
  • Emerging Markets Currency Volatility(VXY) 8.37 unch.
  • S&P 500 Implied Correlation 58.84 +1.34%
  • ISE Sentiment Index 94.0 +20.51%
  • Total Put/Call .74 -37.29% 
  • NYSE Arms .94 -39.29% 
Credit Investor Angst:
  • North American Investment Grade CDS Index 68.68 -1.09%
  • European Financial Sector CDS Index 80.98 -2.05%
  • Western Europe Sovereign Debt CDS Index 42.36 unch.
  • Asia Pacific Sovereign Debt CDS Index 89.39 +1.14%
  • Emerging Market CDS Index 280.74 +.46%
  • China Blended Corporate Spread Index 359.90 +.54%
  • 2-Year Swap Spread 13.75 unch.
  • TED Spread 19.75 +.25 basis point
  • 3-Month EUR/USD Cross-Currency Basis Swap -1.75 -.25 basis point
Economic Gauges:
  • 3-Month T-Bill Yield .03% unch.
  • Yield Curve 227.0 +1.0 basis point
  • China Import Iron Ore Spot $117.0/Metric Tonne +.09%
  • Citi US Economic Surprise Index -37.60 -2.6 points
  • Citi Emerging Markets Economic Surprise Index -21.90 -.8 point
  • 10-Year TIPS Spread 2.13 -1.0 basis point
Overseas Futures:
  • Nikkei Futures: Indicating +155 open in Japan
  • DAX Futures: Indicating -17 open in Germany
Portfolio: 
  • Slightly Higher: On gains in my tech/retail sector longs, index hedges and emerging markets shorts
  • Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges, then added them back
  • Market Exposure: 25% Net Long

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