Wednesday, April 30, 2014

Stocks Slightly Higher into Final Hour on Less Emerging Markets/Eurozone Debt Angst, Short-Covering, Healthcare/Telecom Sector Strength

Broad Equity Market Tone:
  • Advance/Decline Line: Slightly Higher
  • Sector Performance: Mixed
  • Volume: Below Average
  • Market Leading Stocks: Performing In Line
Equity Investor Angst:
  • Volatility(VIX) 13.36 -2.55%
  • Euro/Yen Carry Return Index 147.86 -.04%
  • Emerging Markets Currency Volatility(VXY) 8.10 -2.06%
  • S&P 500 Implied Correlation 54.74 -1.01%
  • ISE Sentiment Index 129.0 +2.38%
  • Total Put/Call .75 -16.67% 
  • NYSE Arms 1.07 +26.91% 
Credit Investor Angst:
  • North American Investment Grade CDS Index 64.45 -2.05%
  • European Financial Sector CDS Index 78.87 -2.34%
  • Western Europe Sovereign Debt CDS Index 34.30 -2.83%
  • Asia Pacific Sovereign Debt CDS Index 89.19 +.69%
  • Emerging Market CDS Index 279.31 -.37%
  • China Blended Corporate Spread Index 349.30 -2.52%
  • 2-Year Swap Spread 11.75 +.75 basis point
  • TED Spread 20.25 -1.25 basis point
  • 3-Month EUR/USD Cross-Currency Basis Swap -4.25 +1.0 basis point
Economic Gauges:
  • 3-Month T-Bill Yield .02% +1 basis point
  • Yield Curve 224.0 -1.0 basis point
  • China Import Iron Ore Spot $105.40/Metric Tonne -2.68%
  • Citi US Economic Surprise Index -32.50 -11.5 points
  • Citi Emerging Markets Economic Surprise Index -27.0 -.7 point
  • 10-Year TIPS Spread 2.19 +2.0 basis points
Overseas Futures:
  • Nikkei Futures: Indicating +16 open in Japan
  • DAX Futures: Indicating +27 open in Germany
Portfolio: 
  • Slightly Higher: On gains in my 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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