Broad Equity Market Tone:
- Advance/Decline Line: Slightly Higher
- Sector Performance: Most Sectors Rising
- Volume: Below Average
- Market Leading Stocks: Performing In Line
Equity Investor Angst:
- Volatility(VIX) 15.1 -1.4%
- Euro/Yen Carry Return Index 126.14 +.03%
- Emerging Markets Currency Volatility(VXY) 8.43 +.12%
- S&P 500 Implied Correlation 36.75 -3.67%
- ISE Sentiment Index 63.0 -42.7%
- Total Put/Call .87 -5.43%
- NYSE Arms .99 +33.8%
Credit Investor Angst:
- North American Investment Grade CDS Index 56.14 -3.69%
- America Energy Sector High-Yield CDS Index 634.0 +.27%
- European Financial Sector CDS Index 67.70 -3.38%
- Italian/German 10Y Yld Spread 243.5 -10.75 basis points
- Asia Ex-Japan Investment Grade CDS Index 69.72 -3.25%
- Emerging Market CDS Index 178.59 -2.89%
- iBoxx Offshore RMB China Corporate High Yield Index 163.71 -.03%
- 2-Year Swap Spread 2.75 +.25 basis point
- TED Spread 22.25 unch.
- 3-Month EUR/USD Cross-Currency Basis Swap -11.5 +3.75 basis points
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 66.87 +.36%
- 3-Month T-Bill Yield 2.17% -3.0 basis points
- Yield Curve 26.75 +7.75 basis points
- China Iron Ore Spot 108.65 USD/Metric Tonne +.57%
- Citi US Economic Surprise Index -60.30 +.9 point
- Citi Eurozone Economic Surprise Index -15.4 +5.7 points
- Citi Emerging Markets Economic Surprise Index -31.50 -.1 point
- 10-Year TIPS Spread 1.68 +4.0 basis points
- 100.0% chance of Fed rate cut at Sept. 18th meeting, 100.0% chance of cut at October 30th meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating -23 open in Japan
- China A50 Futures: Indicating +58 open in China
- DAX Futures: Indicating +6 open in Germany
Portfolio:
- Slightly Higher: On gains in my tech/biotech/medical sector longs
- Disclosed Trades: None
- Market Exposure: 75% Net Long
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