Friday, February 13, 2015

Stocks Slightly Higher into Final Hour on Less European/Emerging Markets Debt Angst, Central Bank Hopes, Oil Bounce, Commodity/Gaming Sector Strength

Broad Equity Market Tone:
  • Advance/Decline Line: Modestly Higher
  • Sector Performance: Mixed
  • Volume: Slightly Below Average
  • Market Leading Stocks: Underperforming
Equity Investor Angst:
  • Volatility(VIX) 15.21 -.85%
  • Euro/Yen Carry Return Index 141.26 -.38%
  • Emerging Markets Currency Volatility(VXY) 11.16 -1.41%
  • S&P 500 Implied Correlation 64.02 +.38%
  • ISE Sentiment Index 110.0 -14.06%
  • Total Put/Call .98 +13.95%
  • NYSE Arms .89 +37.80% 
Credit Investor Angst:
  • North American Investment Grade CDS Index 65.23 -1.27%
  • America Energy Sector High-Yield CDS Index 709.0 -1.28%
  • European Financial Sector CDS Index 63.96 -2.81%
  • Western Europe Sovereign Debt CDS Index 26.44 -2.07%
  • Asia Pacific Sovereign Debt CDS Index 68.21 unch.
  • Emerging Market CDS Index 366.93 -1.68%
  • iBoxx Offshore RMB China Corporates High Yield Index 113.32 +.02%
  • 2-Year Swap Spread 26.75 unch.
  • TED Spread 25.25 unch.
  • 3-Month EUR/USD Cross-Currency Basis Swap -20.75 unch.
Economic Gauges:
  • 3-Month T-Bill Yield .01% unch.
  • Yield Curve 138.0 +2.0 basis points
  • China Import Iron Ore Spot $63.19/Metric Tonne +1.48%
  • Citi US Economic Surprise Index -37.20 -.3 point
  • Citi Eurozone Economic Surprise Index 43.70 +12.6 points
  • Citi Emerging Markets Economic Surprise Index -8.80 -.6 point
  • 10-Year TIPS Spread 1.69 +2.0 basis points
Overseas Futures:
  • Nikkei Futures: Indicating +165 open in Japan
  • DAX Futures: Indicating +7 open in Germany
Portfolio: 
  • Slightly Higher: On gains in my tech/retail/biotech/medical sector longs 
  • Disclosed Trades: None
  • Market Exposure: 50% Net Long

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