Thursday, January 07, 2021

Stocks Higher into Final Hour on Stimulus Hopes, Short-Covering, Oil Gain, Alt Energy/Homebuilding Sector Strength

Broad Equity Market Tone:
  • Advance/Decline Line: Substantially Higher
  • Sector Performance: Most Sectors Rising
  • Volume: Above Average
  • Market Leading Stocks: Performing In Line
Equity Investor Angst:
  • Volatility(VIX) 22.6 -10.0%
  • Bloomberg Global Risk On/Risk Off Index 1,862.0 +282.0 points
  • Euro/Yen Carry Return Index 132.0 +.33%
  • Emerging Markets Currency Volatility(VXY) 10.7 +1.5%
  • S&P 500 Implied Correlation 47.7 -3.1%
  • ISE Sentiment Index 176.0 +61.0 points
  • Total Put/Call .66 -15.4%
  • NYSE Arms .74 +60.9%
Credit Investor Angst:
  • North American Investment Grade CDS Index 5-.14 -3.34%
  • US Energy High-Yield OAS 532.67 -1.71%
  • European Financial Sector CDS Index 59.14 +1.98%
  • Italian/German 10Y Yld Spread 108.0 -6.0 basis points
  • Asia Ex-Japan Investment Grade CDS Index 57.63 -.83%
  • Emerging Market CDS Index 154.21 +.06%
  • iBoxx Offshore RMB China Corporate High Yield Index 184.86 +.07%
  • 2-Year Swap Spread 7.75 +.5 basis point
  • TED Spread 15.5 -.75 basis point
  • 3-Month EUR/USD Cross-Currency Basis Swap -2.25 -2.75 basis points
  • MBS  5/10 Treasury Spread  67.5 -3.25 basis points
  • IHS Markit CMBX BBB- 6 72.75 -.5 basis point
Economic Gauges:
  • Bloomberg Emerging Markets Currency Index 62.58 -.93%
  • 3-Month T-Bill Yield .08% unch.
  • Yield Curve 90.75 +.75 basis point
  • China Iron Ore Spot 168.10 USD/Metric Tonne +3.24%
  • Citi US Economic Surprise Index 64.20 +5.4 points
  • Citi Eurozone Economic Surprise Index 166.40 -13.1 points
  • Citi Emerging Markets Economic Surprise Index 70.20 -1.8 points
  • 10-Year TIPS Spread 2.09 +5.0 basis points
  • 100.0% chance of no change at March 17th meeting, 100.0% chance of no change at April 28th meeting
Overseas Futures:
  • Nikkei 225 Futures: Indicating +130 open in Japan 
  • China A50 Futures: Indicating +122 open in China
  • DAX Futures: Indicating +13 open in Germany
Portfolio:
  • Higher: On gains in my tech/medical/industrial/biotech sector longs
  • Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges
  • Market Exposure: Moved to 75% Net Long

No comments: