Stocks Surging into Final Hour on Central Bank Hopes, Buyout Speculation, Yen Weakness, Energy/Financial Sector Strength
Broad Equity Market Tone:
- Advance/Decline Line: Higher
- Sector Performance: Mixed
- Market Leading Stocks: Performing In Line
Equity Investor Angst:
- Volatility(VIX) 14.4 -6.17%
- Euro/Yen Carry Return Index 135.82 +.21%
- Emerging Markets Currency Volatility(VXY) 10.56 -.58%
- S&P 500 Implied Correlation 64.06 -2.12%
- ISE Sentiment Index 94.0 +3.3%
- Total Put/Call .94 -11.32%
Credit Investor Angst:
- North American Investment Grade CDS Index 63.94 -.93%
- America Energy Sector High-Yield CDS Index 1,027.0 +2.01%
- European Financial Sector CDS Index 65.89 -.28%
- Western Europe Sovereign Debt CDS Index 21.60 -2.79%
- Asia Pacific Sovereign Debt CDS Index 60.70 -2.24%
- Emerging Market CDS Index 315.73 -.29%
- iBoxx Offshore RMB China Corporates High Yield Index 114.30 +.08%
- 2-Year Swap Spread 24.25 -.25 basis point
- TED Spread 24.0 -.25 basis point
- 3-Month EUR/USD Cross-Currency Basis Swap -23.5 +.25 basis point
Economic Gauges:
- 3-Month T-Bill Yield .02% -1.0 basis point
- China Import Iron Ore Spot $52.69/Metric Tonne -.85%
- Citi US Economic Surprise Index -60.8 +2.1 points
- Citi Eurozone Economic Surprise Index 64.90 +12.8 points
- Citi Emerging Markets Economic Surprise Index -.8 +.6 point
- 10-Year TIPS Spread 1.75 -3.0 basis points
Overseas Futures:
- Nikkei Futures: Indicating +260 open in Japan
- DAX Futures: Indicating +42 open in Germany
Portfolio:
- Slightly Higher: On gains in my medical/retail/biotech/tech sector longs
- Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges
- Market Exposure: Moved to 50% Net Long
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