Broad Equity Market Tone:
- Advance/Decline Line: Around Even
- Sector Performance: Mixed
- Volume: Around Average
- Market Leading Stocks: Performing In Line
Equity Investor Angst:
- Volatility(VIX) 15.9 +4.5%
- Bloomberg Global Risk On/Risk Off Index 3,651.0 +1.0 point
- Euro/Yen Carry Return Index 136.51 +.27%
- Emerging Markets Currency Volatility(VXY) 9.16 -.43%
- S&P 500 Implied Correlation 52.0 +6.3%
- ISE Sentiment Index 106.0 -34.0 points
- Total Put/Call .83 +16.9%
- NYSE Arms 1.33 +18.8%
Credit Investor Angst:
- North American Investment Grade CDS Index 50.90 -1.29%
- US Energy High-Yield OAS 348.86 -.25%
- European Financial Sector CDS Index 55.52 -1.80%
- Italian/German 10Y Yld Spread 111.0 +3.0 basis points
- Asia Ex-Japan Investment Grade CDS Index 81.86 -1.71%
- Emerging Market CDS Index 179.14 -1.2%
- China Corp. High-Yield Bond USD ETF(KHYB) 34.13 -.42%
- 2-Year Swap Spread 17.5 unch.
- TED Spread 8.0 +.5 basis point
- 3-Month EUR/USD Cross-Currency Basis Swap -23.75 -1.0 basis point
- MBS 5/10 Treasury Spread 67.0 -1.5 basis points
- IHS Markit CMBX BBB- 6 71.75 unch.
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 58.46 +.04%
- 3-Month T-Bill Yield .05% unch.
- Yield Curve 120.0 +1.0 basis point
- China Iron Ore Spot 121.55 USD/Metric Tonne +2.1%
- Citi US Economic Surprise Index -27.4 unch.
- Citi Eurozone Economic Surprise Index -68.1 unch.
- Citi Emerging Markets Economic Surprise Index -4.8 unch.
- 10-Year TIPS Spread 2.69 unch.
- 95.6% chance of no change at Dec. 15th meeting, 90.9% chance of no change at Jan. 26th meeting
US Covid-19:
- 155 new infections/100K people(last 7 days total) -0/100K people
- 29% of Jan. 7th, 2021 peak(highest daily avg. new infections) unch.
Overseas Futures:
- Nikkei 225 Futures: Indicating -46 open in Japan
- China A50 Futures: Indicating -53 open in China
- DAX Futures: Indicating -15 open in Germany
Portfolio:
- Higher: On gains in my medical/tech sector longs
- Disclosed Trades: None
- Market Exposure: 100% Net Long
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