Broad Equity Market Tone:
- Advance/Decline Line: Higher
- Sector Performance: Mixed
- Volume: Around Average
- Market Leading Stocks: Outperforming
Equity Investor Angst:
- Volatility(VIX) 11.9 -3.5%
- Euro/Yen Carry Return Index 124.52 +.19%
- Emerging Markets Currency Volatility(VXY) 7.04 -.14%
- S&P 500 Implied Correlation 42.4 -5.0%
- ISE Sentiment Index 160.0 +45
- Total Put/Call .93 -2.11%
- NYSE Arms .99 +28.6%
Credit Investor Angst:
- North American Investment Grade CDS Index 50.53 -2.45%
- America Energy Sector High-Yield CDS Index 615.0 +2.14%
- European Financial Sector CDS Index 57.94 -3.63%
- Italian/German 10Y Yld Spread 151.25 -2.75 basis points
- Asia Ex-Japan Investment Grade CDS Index 65.29 -1.19%
- Emerging Market CDS Index 203.92 +.59%
- iBoxx Offshore RMB China Corporate High Yield Index 168.40 +.08%
- 2-Year Swap Spread -1.25 +1.25 basis points
- TED Spread 33.25 -.75 basis point
- 3-Month EUR/USD Cross-Currency Basis Swap -13.75 -1.5 basis points
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 65.37 -.15%
- 3-Month T-Bill Yield 1.58% unch.
- Yield Curve .15 unch.
- China Iron Ore Spot 86.71 USD/Metric Tonne -.57%
- Citi US Economic Surprise Index .2 -3.1 basis points
- Citi Eurozone Economic Surprise Index -15.40 +.7 point
- Citi Emerging Markets Economic Surprise Index -27.80 +.4 basis point
- 10-Year TIPS Spread 1.64 unch.
- 13.0% chance of Fed rate cut at Jan. 29th meeting, 23.5% chance of cut at March 18th meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating +138 open in Japan
- China A50 Futures: Indicating -1 open in China
- DAX Futures: Indicating +5 open in Germany
Portfolio:
- Higher: On gains in my biotech/industrial/retail/tech/medical sector longs
- Disclosed Trades: None
- Market Exposure: 100% Net Long
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