Stocks Falling into Final Hour on Global Growth Fears, Rising Eurozone Debt Angst, Earnings Worries, Tech/Financial Sector Weakness
Broad Equity Market Tone:
- Advance/Decline Line: Lower
- Sector Performance: Most sectors declining
- Market Leading Stocks: Performing In Line
Equity Investor Angst:
- Volatility(VIX) 17.19 +10.79%
- Euro/Yen Carry Return Index 139.78 +.57%
- Emerging Markets Currency Volatility(VXY) 10.07 -.20%
- S&P 500 Implied Correlation 66.82 +2.34%
- ISE Sentiment Index 106.0 +45.21%
- Total Put/Call 1.05 +16.67%
Credit Investor Angst:
- North American Investment Grade CDS Index 66.97 +1.80%
- America Energy Sector High-Yield CDS Index 739.0 +1.84%
- European Financial Sector CDS Index 59.78 +4.03%
- Western Europe Sovereign Debt CDS Index 23.67 +.38%
- Asia Pacific Sovereign Debt CDS Index 70.51 +1.13%
- Emerging Market CDS Index 392.78 +.33%
- iBoxx Offshore RMB China Corporates High Yield Index 112.29 +.46%
- 2-Year Swap Spread 25.0 -.25 basis point
- TED Spread 24.0 -.5 basis point
- 3-Month EUR/USD Cross-Currency Basis Swap -11.75 -1.0 basis point
Economic Gauges:
- 3-Month T-Bill Yield .02% +1.0 basis point
- China Import Iron Ore Spot $63.50/Metric Tonne -.06%
- Citi US Economic Surprise Index -3.70 unch.
- Citi Eurozone Economic Surprise Index 0.0 +.4 point
- Citi Emerging Markets Economic Surprise Index -11.0 -.5 point
- 10-Year TIPS Spread 1.65 +4.0 basis points
Overseas Futures:
- Nikkei Futures: Indicating -123 open in Japan
- DAX Futures: Indicating +43 open in Germany
Portfolio:
- Slightly Lower: On losses in my tech/medical sector longs
- Disclosed Trades: Added to my (IWM)/(QQQ) hedges
- Market Exposure: Moved to 25% Net Long
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