Broad Equity Market Tone:
- Advance/Decline Line: Substantially Higher
- Sector Performance: Almost Every Sector Rising
- Volume: Below Average
- Market Leading Stocks: Outperforming
Equity Investor Angst:
- Volatility(VIX) 15.8 -3.0%
- Bloomberg Global Risk On/Risk Off Index 3,400.0 +40.0 points
- Euro/Yen Carry Return Index 136.72 -.07%
- Emerging Markets Currency Volatility(VXY) 8.7 -1.6%
- S&P 500 Implied Correlation 47.1 +2.4%
- ISE Sentiment Index 136.0 +7.0 points
- Total Put/Call .7 -1.5%
- NYSE Arms .74 -22.1%
Credit Investor Angst:
- North American Investment Grade CDS Index 48.39 -.9%
- US Energy High-Yield OAS 385.85 -.65%
- European Financial Sector CDS Index 53.4 -1.0%
- Italian/German 10Y Yld Spread 105.0 -2.0 basis points
- Asia Ex-Japan Investment Grade CDS Index 84.17 -.56%
- Emerging Market CDS Index 152.86 -1.75%
- China Corp. High-Yield Bond USD ETF(KCCB) 39.15 -.22%
- 2-Year Swap Spread 6.75 +.25 basis point
- TED Spread 9.0 -1.0 basis point
- 3-Month EUR/USD Cross-Currency Basis Swap -3.5 -.5 basis point
- MBS 5/10 Treasury Spread 67.0 -2.25 basis points
- IHS Markit CMBX BBB- 6 73.25 unch.
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 60.80 +.17%
- 3-Month T-Bill Yield .04% unch.
- Yield Curve 122.0 unch.
- China Iron Ore Spot 206.05 USD/Metric Tonne -.33%
- Citi US Economic Surprise Index 26.5 -3.7 points
- Citi Eurozone Economic Surprise Index 97.20 +3.1 points
- Citi Emerging Markets Economic Surprise Index 78.1 +1.2 points
- 10-Year TIPS Spread 2.33 -2.0 basis points
- 100.0% chance of no change at Nov. 3rd meeting, 100.0% chance of no change at Dec. 15th meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating +135 open in Japan
- China A50 Futures: Indicating +50 open in China
- DAX Futures: Indicating -9 open in Germany
Portfolio:
- Higher: On gains in my commodity/tech/medical/industrial/biotech sector longs
- Disclosed Trades: None
- Market Exposure: 100% Net Long
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