Thursday, September 13, 2018

Stocks Higher into Final Hour on Less Emerging Markets Currency/Debt Angst, Economic Optimism, Technical Buying, Tech/Medical Sector Strength

 Broad Equity Market Tone:
  • Advance/Decline Line: Slightly Higher
  • Sector Performance: Most Sectors Rising
  • Volume: Around Average
  • Market Leading Stocks: Performing In Line
Equity Investor Angst:
  • Volatility(VIX) 12.4 -5.6%
  • Euro/Yen Carry Return Index 136.04 +1.1%
  • Emerging Markets Currency Volatility(VXY) 12.11 -1.78%
  • S&P 500 Implied Correlation 35.51 -1.25%
  • ISE Sentiment Index 95.0 -31.65%
  • Total Put/Call .82 unch.
  • NYSE Arms 1.18 +60.7%
Credit Investor Angst:
  • North American Investment Grade CDS Index 55.94 -2.4%
  • America Energy Sector High-Yield CDS Index 404.0 -.86%
  • European Financial Sector CDS Index 67.98 -2.92%
  • Italian/German 10Y Yld Spread 252.75 -1.25 basis points
  • Asia Pacific Sovereign Debt CDS Index 12.25 -2.93%
  • Emerging Market CDS Index 210.60 -5.22%
  • iBoxx Offshore RMB China Corporate High Yield Index 151.35 -.14%
  • 2-Year Swap Spread 17.75 -.25 basis point
  • TED Spread 20.0 +.5 basis point
  • 3-Month EUR/USD Cross-Currency Basis Swap -12.5-.75 basis point
Economic Gauges:
  • Bloomberg Emerging Markets Currency Index 66.18 +.91%
  • 3-Month T-Bill Yield 2.14% unch.
  • Yield Curve 21.25 +.25 basis point
  • China Iron Ore Spot 68.27 USD/Metric Tonne -.04%
  • Citi US Economic Surprise Index -10.1 -6.8 points
  • Citi Eurozone Economic Surprise Index -13.0 -.5 point
  • Citi Emerging Markets Economic Surprise Index -7.70 -2.6 points
  • 10-Year TIPS Spread 2.10 -2.0 basis points
  • 99.8% chance of Fed rate hike at Nov. 8th meeting, 100.0% chance at Dec. 19th meeting
Overseas Futures:
  • Nikkei 225 Futures: Indicating +10 open in Japan 
  • China A50 Futures: Indicating +111 open in China
  • DAX Futures: Indicating +23 open in Germany
Portfolio: 
  • Higher: On gains in my tech/industrial/medical/biotech sector longs
  • Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges and some of my emerging market shorts
  • Market Exposure: Moved to 100% Net Long

No comments: