Stocks Surging into Final Hour on Central Bank Hopes, Less European Debt Angst, Yen Weakness, Financial/Transport Sector Strength
Broad Equity Market Tone:
- Advance/Decline Line: Higher
- Sector Performance: Most Sectors Rising
- Volume: Slightly Below Average
- Market Leading Stocks: Outperforming
Equity Investor Angst:
- Volatility(VIX) 16.53 -12.31%
- Euro/Yen Carry Return Index 140.52 -1.79%
- Emerging Markets Currency Volatility(VXY) 10.58 -2.76%
- S&P 500 Implied Correlation 63.17 -3.08%
- ISE Sentiment Index 210.0 +176.32%
- Total Put/Call .93 -13.08%
Credit Investor Angst:
- North American Investment Grade CDS Index 67.96 -2.80%
- America Energy Sector High-Yield CDS Index 737.0 -.26%
- European Financial Sector CDS Index 59.98 -3.85%
- Western Europe Sovereign Debt CDS Index 24.87 -4.24%
- Asia Pacific Sovereign Debt CDS Index 70.08 -1.93%
- Emerging Market CDS Index 394.29 -.60%
- China Blended Corporate Spread Index n/a
- 2-Year Swap Spread 24.75 +.5 basis point
- TED Spread 23.75 +.25 basis point
- 3-Month EUR/USD Cross-Currency Basis Swap -12.5 +2.25 basis points
Economic Gauges:
- 3-Month T-Bill Yield .02% unch.
- Yield Curve 138.0 +2.0 basis points
- China Import Iron Ore Spot $66.79/Metric Tonne -1.5%
- Citi US Economic Surprise Index 4.0 -1.5 points
- Citi Eurozone Economic Surprise Index -3.6 -.2 point
- Citi Emerging Markets Economic Surprise Index -12.10 +.1 point
- 10-Year TIPS Spread 1.64 +3.0 basis points
Overseas Futures:
- Nikkei Futures: Indicating +276 open in Japan
- DAX Futures: Indicating +81 open in Germany
Portfolio:
- Higher: On gains in my medical/retail/tech sector longs
- Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges
- Market Exposure: Moved to 75% Net Long
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