Thursday, January 08, 2015

Stocks Surging on Central Bank Hopes, Less European/Emerging Markets Debt Angst, Yen Weakness, HMO/Tech Sector Strength

Broad Equity Market Tone:
  • Advance/Decline Line: Substantially Higher
  • Sector Performance: Almost Every Sector Rising
  • Volume: Around Average
  • Market Leading Stocks: Performing In Line
Equity Investor Angst:
  • Volatility(VIX) 17.38 -9.99%
  • Euro/Yen Carry Return Index 147.37 -.02%
  • Emerging Markets Currency Volatility(VXY) 10.60 -1.12%
  • S&P 500 Implied Correlation 65.02 +.06%
  • ISE Sentiment Index 147.0 +47.0%
  • Total Put/Call .78 -17.89%
  • NYSE Arms .56 -43.20% 
Credit Investor Angst:
  • North American Investment Grade CDS Index 68.45 -2.28%
  • America Energy Sector High-Yield CDS Index 710.0 -1.05%
  • European Financial Sector CDS Index 71.55 +.06%
  • Western Europe Sovereign Debt CDS Index 28.87 -5.23%
  • Asia Pacific Sovereign Debt CDS Index 72.30 +.04%
  • Emerging Market CDS Index 361.87 -3.98%
  • China Blended Corporate Spread Index 372.74 +.83%
  • 2-Year Swap Spread 23.50 +1.0 basis point
  • TED Spread 23.0 -.25 basis point
  • 3-Month EUR/USD Cross-Currency Basis Swap -13.75 +.75 basis point
Economic Gauges:
  • 3-Month T-Bill Yield .02% -1.0 basis point
  • Yield Curve 141.0 +5.0 basis points
  • China Import Iron Ore Spot $71.36/Metric Tonne +.56%
  • Citi US Economic Surprise Index 28.50 -.8 point
  • Citi Eurozone Economic Surprise Index 3.0 -7.6 points
  • Citi Emerging Markets Economic Surprise Index -14.50 -1.7 points
  • 10-Year TIPS Spread 1.63 +6.0 basis points
Overseas Futures:
  • Nikkei Futures: Indicating +273 open in Japan
  • DAX Futures: Indicating +6 open in Germany
Portfolio: 
  • Higher: On gains in my tech/biotech/retail/medical sector longs
  • Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges, then added them back
  • Market Exposure: 50% Net Long

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