Wednesday, May 09, 2018

Stocks Surging into Afternoon on Economic Optimism, Oil Gains, Yen Weakness, Energy/Tech Sector Strength

Broad Equity Market Tone:
  • Advance/Decline Line: Higher
  • Sector Performance: Most Sectors Rising
  • Volume: Above Average
  • Market Leading Stocks: Outperforming
Equity Investor Angst:
  • Volatility(VIX) 13.87 -5.7%
  • Euro/Yen Carry Return Index 135.36 +.42%
  • Emerging Markets Currency Volatility(VXY) 8.86 +1.61%
  • S&P 500 Implied Correlation 37.8 -5.6%
  • ISE Sentiment Index 127.0 +12.4%
  • Total Put/Call .82 unch.
  • NYSE Arms .60 -36.8%
Credit Investor Angst:
  • North American Investment Grade CDS Index 61.35 -1.57%
  • America Energy Sector High-Yield CDS Index 375.0 -2.97%
  • European Financial Sector CDS Index 60.47 -.8%
  • Italian/German 10Y Yld Spread 132.25 -1.75 basis points
  • Asia Pacific Sovereign Debt CDS Index 13.03 +.39%
  • Emerging Market CDS Index 159.68 -1.64%
  • iBoxx Offshore RMB China Corporate High Yield Index 149.29 -.08%
  • 2-Year Swap Spread 25.25 -.5 basis point
  • TED Spread 49.0 -2.0 basis points
  • 3-Month EUR/USD Cross-Currency Basis Swap -1.5 +2.0 basis points
Economic Gauges:
  • Bloomberg Emerging Markets Currency Index 71.85 -.01%
  • 3-Month T-Bill Yield 1.88% +2.0 basis points
  • Yield Curve 47.25 +1.5 basis points
  • China Iron Ore Spot 65.95 USD/Metric Tonne +.08%
  • Citi US Economic Surprise Index 27.7 -.5 point
  • Citi Eurozone Economic Surprise Index -101.0 -2.1 points
  • Citi Emerging Markets Economic Surprise Index .5 -.7 point
  • 10-Year TIPS Spread 2.19 +3.0 basis points
  • 100.0% chance of Fed rate hike at August 1 meeting, 100.0% chance at September 26 meeting
Overseas Futures:
  • Nikkei 225 Futures: Indicating +57  open in Japan 
  • China A50 Futures: Indicating +28 open in China
  • DAX Futures: Indicating +51 open in Germany
Portfolio: 
  • Higher: On gains in my industrial/tech/medical/biotech/retail sector longs
  • Disclosed Trades: None
  • Market Exposure: 100% Net Long

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