Wednesday, May 11, 2016

Stocks Lower int Final Hour on Gobal Growth Fears, Earnings Outlook Concerns, Yen Strength, Biotech/Retail Sector Weakness

Broad Equity Market Tone:
  • Advance/Decline Line: Lower
  • Sector Performance: Almost Every Sector Declining
  • Volume: Slightly Below Average
  • Market Leading Stocks: Performing In Line
Equity Investor Angst:
  • Volatility(VIX) 14.51 +6.68%
  • Euro/Yen Carry Return Index 129.48 -.29%
  • Emerging Markets Currency Volatility(VXY) 10.96 -1.08%
  • S&P 500 Implied Correlation 54.86 +3.62%
  • ISE Sentiment Index 81.0 +8.0%
  • Total Put/Call .94 -13.76%
  • NYSE Arms .87 +30.13
Credit Investor Angst:
  • North American Investment Grade CDS Index 81.25 +1.0%
  • America Energy Sector High-Yield CDS Index 966.0 -4.59%
  • European Financial Sector CDS Index 95.03 -2.20%
  • Western Europe Sovereign Debt CDS Index 25.69 -2.0%
  • Asia Pacific Sovereign Debt CDS Index 53.12 +.49%
  • Emerging Market CDS Index 289.78 +.24%
  • iBoxx Offshore RMB China Corporate High Yield Index 127.68 -.07%
  • 2-Year Swap Spread 13.75 +.25 basis point
  • TED Spread 38.0 -2.0 basis points
  • 3-Month EUR/USD Cross-Currency Basis Swap -21.75 +1.0 basis point
Economic Gauges:
  • Bloomberg Emerging Markets Currency Index 72.21 +.42%
  • 3-Month T-Bill Yield .25% +1.0 basis point
  • Yield Curve 101.0 -2.0 basis points
  • China Import Iron Ore Spot $55.57/Metric Tonne +.56%
  • Citi US Economic Surprise Index -34.60 unch.
  • Citi Eurozone Economic Surprise Index -8.7 unch.
  • Citi Emerging Markets Economic Surprise Index 8.40 -.2 point
  • 10-Year TIPS Spread 1.62% -1.0 basis point
  • 15.5% chance of Fed rate hike at July 27 meeting, 30.7% chance at September 21 meeting
Overseas Futures:
  • Nikkei 225 Futures: Indicating -90 open in Japan 
  • China A50 Futures: Indicating -78 open in China
  • DAX Futures: Indicating -35 open in Germany
Portfolio: 
  • Lower: On losses in my retail/tech/biotech sector longs 
  • Disclosed Trades: Added to my (IWM)/(QQQ) hedges
  • Market Exposure: Moved to 25% Net Long

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