Friday, February 27, 2015

Stocks Reversing Slightly Lower into Final Hour on Global Growth Fears, Earnings Worries, Profit-Taking, Biotech/Tech Sector Weakness

Broad Equity Market Tone:
  • Advance/Decline Line: Lower
  • Sector Performance: Most Sectors Declining
  • Volume: Below Average
  • Market Leading Stocks: Performing In Line
Equity Investor Angst:
  • Volatility(VIX) 13.83 -.68%
  • Euro/Yen Carry Return Index 139.94 +.19%
  • Emerging Markets Currency Volatility(VXY) 9.91 +.92%
  • S&P 500 Implied Correlation 60.20-.79%
  • ISE Sentiment Index 110.0 -25.68%
  • Total Put/Call .98 -3.92%
  • NYSE Arms 1.24 -24.30% 
Credit Investor Angst:
  • North American Investment Grade CDS Index 61.26 -.42%
  • America Energy Sector High-Yield CDS Index 650.0 -.80%
  • European Financial Sector CDS Index 54.30 +.66%
  • Western Europe Sovereign Debt CDS Index 22.51 -.75%
  • Asia Pacific Sovereign Debt CDS Index 60.39 -1.09%
  • Emerging Market CDS Index 376.06 -.70%
  • iBoxx Offshore RMB China Corporates High Yield Index 114.42 +.13%
  • 2-Year Swap Spread 24.75 +.25 basis point
  • TED Spread 24.5 -.25 basis point
  • 3-Month EUR/USD Cross-Currency Basis Swap -22.75 -2.0 basis points
Economic Gauges:
  • 3-Month T-Bill Yield .01% -1.0 basis point
  • Yield Curve 137.0 -1.0 basis point
  • China Import Iron Ore Spot $62.56/Metric Tonne +.30%
  • Citi US Economic Surprise Index -46.70 -4.9 points
  • Citi Eurozone Economic Surprise Index 51.0 +1.1 points
  • Citi Emerging Markets Economic Surprise Index -7.3 -.3 point
  • 10-Year TIPS Spread 1.84 +4.0 basis points
Overseas Futures:
  • Nikkei Futures: Indicating +42 open in Japan
  • DAX Futures: Indicating -17 open in Germany
Portfolio: 
  • Slightly Lower: On losses in my biotech/tech sector longs and emerging markets shorts 
  • Disclosed Trades: Added to my (IWM)/(QQQ) hedges
  • Market Exposure: Moved to 25% Net Long

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