Tuesday, May 13, 2014

Stocks Slightly Higher into Final Hour on Central Bank Hopes, Yen Weakness, Short-Covering, Transport/Homebuilding Sector Strength

Broad Equity Market Tone:
  • Advance/Decline Line: Lower
  • Sector Performance: Mixed
  • Volume: Slightly Below Average
  • Market Leading Stocks: Performing In Line
Equity Investor Angst:
  • Volatility(VIX) 12.24 +.08%
  • Euro/Yen Carry Return Index 146.22 -.25%
  • Emerging Markets Currency Volatility(VXY) 7.19 -.96%
  • S&P 500 Implied Correlation 55.58 +1.35%
  • ISE Sentiment Index 110.0 -17.91%
  • Total Put/Call .85 +32.81%
  • NYSE Arms .74 +12.11% 
Credit Investor Angst:
  • North American Investment Grade CDS Index 62.49 +.27%
  • European Financial Sector CDS Index 71.38 -1.91%
  • Western Europe Sovereign Debt CDS Index 31.72 -2.19%
  • Asia Pacific Sovereign Debt CDS Index 83.54 -1.55%
  • Emerging Market CDS Index 266.34 +.09%
  • China Blended Corporate Spread Index 356.82 -1.01%
  • 2-Year Swap Spread 13.5 -.25 basis point
  • TED Spread 20.25 -.25 basis point
  • 3-Month EUR/USD Cross-Currency Basis Swap -6.25 -2.0 basis points
Economic Gauges:
  • 3-Month T-Bill Yield .02% unch.
  • Yield Curve 223.0 -3.0 basis points
  • China Import Iron Ore Spot $103.0/Metric Tonne n/a
  • Citi US Economic Surprise Index -12.70 -6.1 points
  • Citi Emerging Markets Economic Surprise Index -26.70 -2.3 points
  • 10-Year TIPS Spread 2.15 -2.0 basis points
Overseas Futures:
  • Nikkei Futures: Indicating +43 open in Japan
  • DAX Futures: Indicating +9 open in Germany
Portfolio: 
  • Slightly Lower: On losses in my biotech sector longs and emerging markets shorts 
  • Disclosed Trades: Added to my (IWM)/(QQQ) hedges
  • Market Exposure: Moved to 50% Net Long

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