Tuesday, March 24, 2015

Stocks Reversing Lower into Final Hour on Earnings Worries, Global Growth Fears, Technical Selling, Utility/Hospital Sector Weakness

Broad Equity Market Tone:
  • Advance/Decline Line: About Even
  • Sector Performance: Most Sectors Declining
  • Volume: Light
  • Market Leading Stocks: Performing In Line
Equity Investor Angst:
  • Volatility(VIX) 13.45 +.30%
  • Euro/Yen Carry Return Index 136.59 -.20%
  • Emerging Markets Currency Volatility(VXY) 10.29 -.10%
  • S&P 500 Implied Correlation 63.13 -.69%
  • ISE Sentiment Index 52.0 -40.91%
  • Total Put/Call .98 +13.95%
  • NYSE Arms 1.43 +48.22% 
Credit Investor Angst:
  • North American Investment Grade CDS Index 62.41 -.40%
  • America Energy Sector High-Yield CDS Index 1,013.0 -.81%
  • European Financial Sector CDS Index 67.99 +1.04%
  • Western Europe Sovereign Debt CDS Index 22.62 +3.98%
  • Asia Pacific Sovereign Debt CDS Index 60.72 +.70%
  • Emerging Market CDS Index 313.88 -1.32%
  • iBoxx Offshore RMB China Corporates High Yield Index 114.03 -.18%
  • 2-Year Swap Spread 26.25 -1.0 basis point
  • TED Spread 25.75 -1.0 basis point
  • 3-Month EUR/USD Cross-Currency Basis Swap -23.75 -1.0 basis point
Economic Gauges:
  • 3-Month T-Bill Yield .02% +2.0 basis points
  • Yield Curve 131.0 -3.0 basis points
  • China Import Iron Ore Spot $55.86/Metric Tonne +1.92%
  • Citi US Economic Surprise Index -57.80 +15.5 points
  • Citi Eurozone Economic Surprise Index 51.0 +11.3 points
  • Citi Emerging Markets Economic Surprise Index .7 unch.
  • 10-Year TIPS Spread 1.77 +2.0 basis points
Overseas Futures:
  • Nikkei Futures: Indicating -51 open in Japan
  • DAX Futures: Indicating +11 open in Germany
Portfolio: 
  • Slightly Lower: On losses in my biotech/tech sector longs and emerging markets shorts
  • Disclosed Trades: None
  • Market Exposure: 25% Net Long

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