Tuesday, October 22, 2019

Stocks Slightly Lower into Final Hour on Brexit Deal Concerns, Profit-Taking, Technical Selling, Tech/Restaurant Sector Weakness

 Broad Equity Market Tone:
  • Advance/Decline Line: Slightly Higher
  • Sector Performance: Mixed
  • Volume: Around Average
  • Market Leading Stocks: Performing In Line
Equity Investor Angst:
  • Volatility(VIX) 13.9 -1.1%
  • Euro/Yen Carry Return Index 125.37 -.21%
  • Emerging Markets Currency Volatility(VXY) 7.64 -1.42%
  • S&P 500 Implied Correlation 30.9 -.45%
  • ISE Sentiment Index 93.0 -18.8%
  • Total Put/Call .87 -7.5%
  • NYSE Arms .90 +7.1%
Credit Investor Angst:
  • North American Investment Grade CDS Index 54.09 +.14%
  • America Energy Sector High-Yield CDS Index 494.0 +1.67%
  • European Financial Sector CDS Index 56.97 -.60%
  • Italian/German 10Y Yld Spread 129.25 -3.5 basis points
  • Asia Ex-Japan Investment Grade CDS Index 69.30 -1.18%
  • Emerging Market CDS Index 201.30 +.01%
  • iBoxx Offshore RMB China Corporate High Yield Index 166.86 +.02%
  • 2-Year Swap Spread 2.0 -.5 basis point
  • TED Spread 33.0 +3.25 basis points
  • 3-Month EUR/USD Cross-Currency Basis Swap -24.25 -1.5 basis points
Economic Gauges:
  • Bloomberg Emerging Markets Currency Index 66.10 +.29%
  • 3-Month T-Bill Yield 1.63% -2.0 basis points
  • Yield Curve .18 unch.
  • China Iron Ore Spot 84.30 USD/Metric Tonne +.89%
  • Citi US Economic Surprise Index 6.6 -.6 point
  • Citi Eurozone Economic Surprise Index -55.9 +1.3 points
  • Citi Emerging Markets Economic Surprise Index -20.50 -.4 basis point
  • 10-Year TIPS Spread 1.61 unch.
  • 94.7% chance of Fed rate cut at Dec. 11th meeting, 96.5% chance of cut at Jan. 29th meeting
Overseas Futures:
  • Nikkei 225 Futures: Indicating +182 open in Japan 
  • China A50 Futures: Indicating -19 open in China
  • DAX Futures: Indicating -58 open in Germany
Portfolio:
  • Slightly Lower: On losses in my tech/medical sector longs
  • Disclosed Trades: None
  • Market Exposure: 100% Net Long

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