Tuesday, June 05, 2018

Stocks Slightly Higher into Final Hour on Economic Optimism, Technical Buying, Short-Covering, Retail/Tech Sector Strength

 Broad Equity Market Tone:
  • Advance/Decline Line: Higher
  • Sector Performance: Mixed
  • Volume: Around Average
  • Market Leading Stocks: Performing In Line
Equity Investor Angst:
  • Volatility(VIX) 12.64 -.78%
  • Euro/Yen Carry Return Index 133.83 +.10%
  • Emerging Markets Currency Volatility(VXY) 9.16 +.11%
  • S&P 500 Implied Correlation 35.18 -3.96%
  • ISE Sentiment Index 104.0 -15.5%
  • Total Put/Call .77 -3.8%
  • NYSE Arms 1.14 -1.0%
Credit Investor Angst:
  • North American Investment Grade CDS Index 64.56 +.67%
  • America Energy Sector High-Yield CDS Index 375.0 -.78%
  • European Financial Sector CDS Index 79.53 +7.1%
  • Italian/German 10Y Yld Spread 242.0 +30.0 basis points
  • Asia Pacific Sovereign Debt CDS Index 12.65 -1.4%
  • Emerging Market CDS Index 170.14 +.28%
  • iBoxx Offshore RMB China Corporate High Yield Index 149.84 -.12%
  • 2-Year Swap Spread 26.25 unch.
  • TED Spread 39.25 -1.5 basis points
  • 3-Month EUR/USD Cross-Currency Basis Swap -8.0 +2.75 basis points
Economic Gauges:
  • Bloomberg Emerging Markets Currency Index 70.95 -.23%
  • 3-Month T-Bill Yield 1.93% +3.0 basis points
  • Yield Curve 42.50 -.5 basis point
  • China Iron Ore Spot 65.25 USD/Metric Tonne +.69%
  • Citi US Economic Surprise Index 11.70 +2.0 points
  • Citi Eurozone Economic Surprise Index -90.0 -.2 point
  • Citi Emerging Markets Economic Surprise Index -14.80 -2.1 points
  • 10-Year TIPS Spread 2.14 unch.
  • 100.0% chance of Fed rate hike at August 1 meeting, 100.0% chance at September 26 meeting
Overseas Futures:
  • Nikkei 225 Futures: Indicating -29  open in Japan 
  • China A50 Futures: Indicating -64 open in China
  • DAX Futures: Indicating -12 open in Germany
Portfolio: 
  • Higher: On gains in my tech/medical/retail/industrial sector longs
  • Disclosed Trades: None
  • Market Exposure: 100% Net Long

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