Tuesday, April 10, 2018

Stocks Soaring into Final Hour on Diminishing Trade War Fears, Earnings Optimism, Oil Gain, Energy/Tech Sector Strength

Broad Equity Market Tone:
  • Advance/Decline Line: Substantially Higher
  • Sector Performance: Almost Every Sector Rising
  • Volume: Around Average
  • Market Leading Stocks: Performing In Line
Equity Investor Angst:
  • Volatility(VIX) 20.8 -4.0%
  • Euro/Yen Carry Return Index 137.93 +.73%
  • Emerging Markets Currency Volatility(VXY) 8.55 +2.03%
  • S&P 500 Implied Correlation 50.31 +3.95%
  • ISE Sentiment Index 144.0 -1.0%
  • Total Put/Call .82 -16.3%
  • NYSE Arms .47 -48.5%
Credit Investor Angst:
  • North American Investment Grade CDS Index 62.91 -3.39%
  • America Energy Sector High-Yield CDS Index 458.0 -.81%
  • European Financial Sector CDS Index 60.47 -1.38%
  • Italian/German 10Y Yld Spread 128.0 +1.25 basis points
  • Asia Pacific Sovereign Debt CDS Index 12.19 -3.18%
  • Emerging Market CDS Index 140.30 -.18%
  • iBoxx Offshore RMB China Corporate High Yield Index 148.82 -.01%
  • 2-Year Swap Spread 29.5 -1.25 basis points
  • TED Spread 60.5 -2.25 basis points
  • 3-Month EUR/USD Cross-Currency Basis Swap -3.5 +1.0 basis point
Economic Gauges:
  • Bloomberg Emerging Markets Currency Index 74.43 -.13%
  • 3-Month T-Bill Yield 1.72% +1.0 basis point
  • Yield Curve 48.75 -1.25 basis points
  • China Iron Ore Spot 65.85 USD/Metric Tonne +1.15%
  • Citi US Economic Surprise Index 32.80 -3.1 points
  • Citi Eurozone Economic Surprise Index -89.0 -2.3 points
  • Citi Emerging Markets Economic Surprise Index 22.10 -.7 point
  • 10-Year TIPS Spread 2.09 +1.0 basis point
  • 84.3% chance of Fed rate hike at June 13 meeting, 85.6% chance at August 1 meeting
Overseas Futures:
  • Nikkei 225 Futures: Indicating +131 open in Japan 
  • China A50 Futures: Indicating +45 open in China
  • DAX Futures: Indicating -5 open in Germany
Portfolio: 
  • Higher: On gains in my industrial/medical/biotech/tech/retail sector longs
  • Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges and and some of my emerging market shorts
  • Market Exposure: Moved to 100% Net Long

No comments: