Tuesday, January 23, 2018

Stocks Rising into Final Hour on Earnings Optimism, Oil Gain, Short-Covering, Tech/Biotech Sector Strength

Broad Equity Market Tone:
  • Advance/Decline Line: Around Even
  • Sector Performance: Most Sectors Rising
  • Volume: Above Average
  • Market Leading Stocks: Performing In Line
Equity Investor Angst:
  • Volatility(VIX) 11.0 +.36%
  • Euro/Yen Carry Return Index 141.32 -.32%
  • Emerging Markets Currency Volatility(VXY) 8.13 +2.4%
  • S&P 500 Implied Correlation 32.97 -3.4%
  • ISE Sentiment Index 91.0 -7.14%
  • Total Put/Call .63 -29.21%
  • NYSE Arms 1.43 +95.21%
Credit Investor Angst:
  • North American Investment Grade CDS Index 46.43 -1.22%
  • America Energy Sector High-Yield CDS Index 312.0 -2.79%
  • European Financial Sector CDS Index 42.12 -.60%
  • Italian/German 10Y Yld Spread 132.75 -2.75 basis points
  • Asia Pacific Sovereign Debt CDS Index 10.61 -.93%
  • Emerging Market CDS Index 115.07 +2.07%
  • iBoxx Offshore RMB China Corporate High Yield Index 147.13 +.22%
  • 2-Year Swap Spread 20.25 -.25 basis point
  • TED Spread 31.0 -1.0 basis point
  • 3-Month EUR/USD Cross-Currency Basis Swap -26.25 +1.0 basis point
Economic Gauges:
  • Bloomberg Emerging Markets Currency Index 75.71 -.02%
  • 3-Month T-Bill Yield 1.43% +2.0 basis points
  • Yield Curve 58.0 -1.25 basis points
  • China Iron Ore Spot 72.20 USD/Metric Tonne +.03%
  • Citi US Economic Surprise Index 49.60 -2.3 points
  • Citi Eurozone Economic Surprise Index 51.80 +.7 basis point
  • Citi Emerging Markets Economic Surprise Index 4.10 -1.0 basis point
  • 10-Year TIPS Spread 2.05 -2.0 basis points
  • 86.9% chance of Fed rate hike at March 21 meeting, 87.4% chance at May 2 meeting
Overseas Futures:
  • Nikkei 225 Futures: Indicating -89 open in Japan 
  • China A50 Futures: Indicating +46 open in China
  • DAX Futures: Indicating -4 open in Germany
Portfolio: 
  • Higher: On gains in my biotech/tech sector longs
  • Disclosed Trades: None
  • Market Exposure: 100% Net Long

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