Thursday, March 05, 2015

Stocks Rising Slightly into Final Hour on Less Eurozone Debt Angst, Buyout Speculation, Short-Covering, Biotech/Alt Energy Sector Strength

Broad Equity Market Tone:
  • Advance/Decline Line: Slightly Higher
  • Sector Performance: Mixed
  • Volume: Below Average
  • Market Leading Stocks: Performing In Line
Equity Investor Angst:
  • Volatility(VIX) 14.15 -.49%
  • Euro/Yen Carry Return Index 138.37 -.11%
  • Emerging Markets Currency Volatility(VXY) 10.27 +2.19%
  • S&P 500 Implied Correlation 58.12 -1.37%
  • ISE Sentiment Index 36.0 -68.14%
  • Total Put/Call .93 +2.20%
  • NYSE Arms 1.16 -22.79% 
Credit Investor Angst:
  • North American Investment Grade CDS Index 60.59 -1.78%
  • America Energy Sector High-Yield CDS Index 685.0 +2.91%
  • European Financial Sector CDS Index 52.71 -6.25%
  • Western Europe Sovereign Debt CDS Index 21.50 -5.37%
  • Asia Pacific Sovereign Debt CDS Index 62.30 -.83%
  • Emerging Market CDS Index 386.64 +1.04%
  • iBoxx Offshore RMB China Corporates High Yield Index 114.03 -.23%
  • 2-Year Swap Spread 25.75 +1.0 basis point
  • TED Spread 26.0 +.5 basis point
  • 3-Month EUR/USD Cross-Currency Basis Swap -22.75 -.5 basis point
Economic Gauges:
  • 3-Month T-Bill Yield .01% unch.
  • Yield Curve 147.0 +1.0 basis point
  • China Import Iron Ore Spot $59.73/Metric Tonne -3.57%
  • Citi US Economic Surprise Index -55.0 -5.4 points
  • Citi Eurozone Economic Surprise Index 49.5 -6.1 points
  • Citi Emerging Markets Economic Surprise Index -5.90 +.6 point
  • 10-Year TIPS Spread 1.84 -4.0 basis points
Overseas Futures:
  • Nikkei Futures: Indicating +125 open in Japan
  • DAX Futures: Indicating +5 open in Germany
Portfolio: 
  • Higher: On gains in my biotech/medical/retail sector longs and emerging markets shorts
  • Disclosed Trades: None
  • Market Exposure: 50% Net Long

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