Stocks Falling into Final Hour on Global Growth Fears, Earnings Worries, Oil Plunge, Commodity/Construction Sector Weakness
Broad Equity Market Tone:
- Advance/Decline Line: Substantially Lower
- Sector Performance: Almost Every Sector Declining
- Market Leading Stocks: Performing In Line
Equity Investor Angst:
- Volatility(VIX) 16.67 +8.11%
- Euro/Yen Carry Return Index 132.66 -1.54%
- Emerging Markets Currency Volatility(VXY) 11.0 +4.27%
- S&P 500 Implied Correlation 61.22 +3.19%
- ISE Sentiment Index 71.0 -7.79%
- Total Put/Call 1.14 +6.54%
Credit Investor Angst:
- North American Investment Grade CDS Index 66.20 +3.47%
- America Energy Sector High-Yield CDS Index 733.0 +.36%
- European Financial Sector CDS Index 55.90 -.75%
- Western Europe Sovereign Debt CDS Index 21.10 +.98%
- Asia Pacific Sovereign Debt CDS Index 66.64 +2.69%
- Emerging Market CDS Index 418.59 +2.64%
- iBoxx Offshore RMB China Corporates High Yield Index 113.84 +.06%
- 2-Year Swap Spread 27.75 +.25 basis point
- TED Spread 25.0 -.25 basis point
- 3-Month EUR/USD Cross-Currency Basis Swap -19.25 -1.25 basis points
Economic Gauges:
- 3-Month T-Bill Yield .03% +1.0 basis point
- Yield Curve 147.0 +3.0 basis points
- China Import Iron Ore Spot $57.66/Metric Tonne -.53%
- Citi US Economic Surprise Index -60.10 -4.5 points
- Citi Eurozone Economic Surprise Index 44.1 -1.2 points
- Citi Emerging Markets Economic Surprise Index 5.60 +.7 point
- 10-Year TIPS Spread 1.69 -3.0 basis points
Overseas Futures:
- Nikkei Futures: Indicating -25 open in Japan
- DAX Futures: Indicating +35 open in Germany
Portfolio:
- Lower: On losses in my medical/tech sector longs
- Disclosed Trades: Added to my (IWM)/(QQQ) hedges
- Market Exposure: Moved to 25% Net Long
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