Thursday, December 11, 2014

Stocks Higher into Final Hour on US Economic Data, Yen Weakness, Short-Covering, Retail/Healthcare Sector Strength

Broad Equity Market Tone:
  • Advance/Decline Line: Modestly Higher
  • Sector Performance: Most Sectors Rising
  • Volume: Below Average
  • Market Leading Stocks: Performing In Line
Equity Investor Angst:
  • Volatility(VIX) 18.18 -2.43%
  • Euro/Yen Carry Return Index 154.03 +.57%
  • Emerging Markets Currency Volatility(VXY) 9.25 +1.76%
  • S&P 500 Implied Correlation 70.19 +4.03%
  • ISE Sentiment Index 53.0 -36.90%
  • Total Put/Call .99 +3.13%
  • NYSE Arms 1.18 -65.05% 
Credit Investor Angst:
  • North American Investment Grade CDS Index 68.61 +.29% 
  • America Energy Sector High-Yield CDS Index 628.0 +4.13%
  • European Financial Sector CDS Index 61.88 +.99%
  • Western Europe Sovereign Debt CDS Index 30.72 +3.31%
  • Asia Pacific Sovereign Debt CDS Index 65.82 -.81%
  • Emerging Market CDS Index 351.28 +.25%
  • China Blended Corporate Spread Index 336.50 +1.73%
  • 2-Year Swap Spread 23.0 unch.
  • TED Spread 21.50 +.25 basis point
  • 3-Month EUR/USD Cross-Currency Basis Swap -8.50 -1.5 basis points
Economic Gauges:
  • 3-Month T-Bill Yield .03% unch.
  • Yield Curve 158.0 -1.0 basis point
  • China Import Iron Ore Spot $69.37/Metric Tonne +.33%
  • Citi US Economic Surprise Index 24.80 +6.7 points
  • Citi Eurozone Economic Surprise Index -20.60 -1.2 points
  • Citi Emerging Markets Economic Surprise Index -6.2 +.9 point
  • 10-Year TIPS Spread 1.71 unch.
Overseas Futures:
  • Nikkei Futures: Indicating +198 open in Japan
  • DAX Futures: Indicating -40 open in Germany
Portfolio: 
  • Slightly Higher: On gains in my retail/tech/biotech/medical sector longs and emerging markets shorts
  • Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges
  • Market Exposure: Moved to 50% Net Long

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