Stocks Surging into Afternoon on US Economic Data, Oil Bounce, Yen Weakness, Homebuilding/Biotech Sector Strength
Broad Equity Market Tone:
- Advance/Decline Line: Higher
- Sector Performance: Most Sectors Rising
- Volume: Slightly Below Average
- Market Leading Stocks: Performing In Line
Equity Investor Angst:
- Volatility(VIX) 20.36 -3.65%
- Euro/Yen Carry Return Index 147.48 +.32%
- Emerging Markets Currency Volatility(VXY) 10.65 -.84%
- S&P 500 Implied Correlation 66.65 -.95%
- ISE Sentiment Index 95.0 -4.04%
- Total Put/Call 1.08 -3.57%
Credit Investor Angst:
- North American Investment Grade CDS Index 70.65 -1.31%
- America Energy Sector High-Yield CDS Index 718.0 +2.65%
- European Financial Sector CDS Index 71.55 +.06%
- Western Europe Sovereign Debt CDS Index 29.85 +2.12%
- Asia Pacific Sovereign Debt CDS Index 72.48 -2.53%
- Emerging Market CDS Index 378.66 -1.82%
- China Blended Corporate Spread Index 369.68 +2.96%
- 2-Year Swap Spread 22.50 -.5 basis point
- TED Spread 23.25 -.25 basis point
- 3-Month EUR/USD Cross-Currency Basis Swap -14.5 +.25 basis point
Economic Gauges:
- 3-Month T-Bill Yield .03% +1.0 basis point
- Yield Curve 136.0 +4.0 basis points
- China Import Iron Ore Spot $70.96/Metric Tonne -.74%
- Citi US Economic Surprise Index 29.30 +6.5 points
- Citi Eurozone Economic Surprise Index 10.60 -.3 point
- Citi Emerging Markets Economic Surprise Index -12.80 +1.1 points
- 10-Year TIPS Spread 1.57 -1.0 basis point
Overseas Futures:
- Nikkei Futures: Indicating +285 open in Japan
- DAX Futures: Indicating +5 open in Germany
Portfolio:
- Slightly Higher: On gains in my tech/biotech/retail/medical sector longs
- Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges and some of my (EEM) short
- Market Exposure: Moved to 50% Net Long
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