Monday, March 23, 2015

Stocks Slightly Higher into Final Hour on Central Bank Hopes, Euro Bounce, Less Emerging Markets Debt Angst, Metals & Mining/Hospital Sector Strength

Broad Equity Market Tone:
  • Advance/Decline Line: Modestly Higher
  • Sector Performance: Mixed
  • Volume: Light
  • Market Leading Stocks: Underperforming
Equity Investor Angst:
  • Volatility(VIX) 13.01 -.08%
  • Euro/Yen Carry Return Index 136.96 +.93%
  • Emerging Markets Currency Volatility(VXY) 10.29 -.96%
  • S&P 500 Implied Correlation 61.41 +1.94%
  • ISE Sentiment Index 94.0 -5.05%
  • Total Put/Call .82 +2.50%
  • NYSE Arms .79 +4.84% 
Credit Investor Angst:
  • North American Investment Grade CDS Index 62.29 -1.12%
  • America Energy Sector High-Yield CDS Index 1,024.0 -.19%
  • European Financial Sector CDS Index 67.33 +4.72%
  • Western Europe Sovereign Debt CDS Index 21.76 -.14%
  • Asia Pacific Sovereign Debt CDS Index 60.60 -.06%
  • Emerging Market CDS Index 317.89 -1.28%
  • iBoxx Offshore RMB China Corporates High Yield Index 114.25 +.04%
  • 2-Year Swap Spread 27.25 +.75 basis point
  • TED Spread 26.75 +.75 basis point
  • 3-Month EUR/USD Cross-Currency Basis Swap -22.75 unch.
Economic Gauges:
  • 3-Month T-Bill Yield .00% unch.
  • Yield Curve 134.0 -1.0 basis point
  • China Import Iron Ore Spot $54.81/Metric Tonne +.27%
  • Citi US Economic Surprise Index -73.30 -1.2 points
  • Citi Eurozone Economic Surprise Index 39.70 -.5 point
  • Citi Emerging Markets Economic Surprise Index .7 +1.3 points
  • 10-Year TIPS Spread 1.75 -2.0 basis points
Overseas Futures:
  • Nikkei Futures: Indicating -45 open in Japan
  • DAX Futures: Indicating +25 open in Germany
Portfolio: 
  • Slightly Higher: On gains in my medical/tech/retail sector longs 
  • Disclosed Trades: None
  • Market Exposure: 50% Net Long

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