Opening Bell 29.07.2015

Your world at 9am

world.2015-07-29

Equities

Major
DAX(DEU) +1.06%
CAC(FRA) +1.01%
UKX(GBR) +0.77%
NKY(JPN) -0.58%
SPX(USA) +1.24%
MINTs
JCI(IDN) +0.95%
INMEX(MEX) +1.32%
NGSEINDX(NGA) -0.63%
XU030(TUR) +0.95%
BRICS
IBOV(BRA) +1.78%
SHCOMP(CHN) +0.42%
NIFTY(IND) -0.29%
INDEXCF(RUS) +1.24%
TOP40(ZAF) -1.05%

Commodities

Energy
Brent Crude Oil -0.32%
WTI Crude Oil -0.27%
Ethanol +0.00%
Heating Oil -0.47%
Natural Gas +0.74%
RBOB Gasoline -0.40%
Metals
Copper +0.00%
Palladium +0.70%
Platinum +0.14%
Gold 100oz +0.00%
Silver 5000oz +0.06%

Currencies

USDEUR:-0.18% USDJPY:-0.13%

MINTs
USDIDR(IDN) -0.07%
USDMXN(MEX) -0.02%
USDNGN(NGA) -0.39%
USDTRY(TUR) +0.06%
BRICS
USDBRL(BRA) -0.21%
USDCNY(CHN) -0.01%
USDINR(IND) -0.40%
USDRUB(RUS) -0.05%
USDZAR(ZAF) -0.06%
Agricultural
White Sugar +0.00%
Cattle +0.00%
Cocoa +0.00%
Cotton +0.00%
Soybean Meal +0.20%
Sugar #11 -0.62%
Coffee (Robusta) +0.00%
Corn -0.67%
Feeder Cattle +0.00%
Lean Hogs +0.00%
Lumber +1.33%
Coffee (Arabica) -0.33%
Orange Juice +0.28%
Soybeans +0.18%
Wheat -0.15%

Credit Indices

Index Change
Markit CDX EM -0.21%
Markit CDX NA HY -0.28%
Markit CDX NA IG +1.71%
Markit iTraxx Asia ex-Japan IG +3.52%
Markit iTraxx Australia +2.22%
Markit iTraxx Europe +2.28%
Markit iTraxx Europe Crossover +10.58%
Markit iTraxx Japan +1.73%
Markit iTraxx SovX Western Europe +0.49%
Markit LCDX (Loan CDS) +0.00%
Markit MCDX (Municipal CDS) +0.93%
What is the market going to obsess about today?

Must reads

Punjab National Bank, a quarter of whose $4-billion portfolio of steel loans is stressed, is considering taking charge of some companies over the next two years, changing their management and then selling stakes. (BS) So now we have bureaucrats trying to run steel companies. This should end well. (IE)

Channel stuffing going on in 2-wheelers: Motorcycle inventories have risen at dealerships across the country as companies continue to despatch high volumes despite poor demand, helping them show impressive sales at least on paper. (LiveMint)

Emerging-market currencies have slumped to 15-year lows. (FT)

Good luck!

Options Daily 29.07.2015

Summary: Aug NIFTY 8500 calls added 295,675 contracts while 9100 calls shed 20,125. On the Put side of the equation, the 8300 strike added 644,250 while the 8600’s shed 8,075.

Our trend model indicates a SHORT on the NIFTY and SHORT on the BANKNIFTY.

JUL NIFTY OI

JUL NIFTY OI chart

JUL BANKNIFTY OI

JUL BANKNIFTY OI chart

AUG NIFTY OI

AUG NIFTY OI chart

AUG BANKNIFTY OI

AUG BANKNIFTY OI chart

JUL NIFTY Volatility

JUL NIFTY Volatility chart

JUL BANKNIFTY Volatility

JUL BANKNIFTY Volatility chart

AUG NIFTY Volatility

AUG NIFTY Volatility chart

AUG BANKNIFTY Volatility

AUG BANKNIFTY Volatility chart
Dotted lines indicated actual underlying volatility. Solid lines are IVs.

Opening Bell 28.07.2015

Your world at 9am

world.2015-07-28

Equities

Major
DAX(DEU) -2.56%
CAC(FRA) -2.57%
UKX(GBR) -1.13%
NKY(JPN) -0.94%
SPX(USA) -0.58%
MINTs
JCI(IDN) -0.87%
INMEX(MEX) -1.27%
NGSEINDX(NGA) -0.91%
XU030(TUR) -1.66%
BRICS
IBOV(BRA) -1.04%
SHCOMP(CHN) -0.77%
NIFTY(IND) -1.88%
INDEXCF(RUS) -0.67%
TOP40(ZAF) -0.20%

Commodities

Energy
RBOB Gasoline -0.63%
Ethanol +0.00%
Heating Oil -0.61%
Natural Gas -0.14%
WTI Crude Oil -0.53%
Brent Crude Oil -0.75%
Metals
Gold 100oz +0.00%
Palladium +0.55%
Platinum -0.61%
Silver 5000oz +0.00%
Copper -0.11%

Currencies

USDEUR:+0.09% USDJPY:+0.13%

MINTs
USDIDR(IDN) +0.01%
USDMXN(MEX) -0.07%
USDNGN(NGA) -0.03%
USDTRY(TUR) -0.14%
BRICS
USDBRL(BRA) +0.26%
USDCNY(CHN) -0.01%
USDINR(IND) +0.20%
USDRUB(RUS) +0.14%
USDZAR(ZAF) -0.12%
Agricultural
Cattle +0.00%
Cocoa +0.00%
Orange Juice -0.28%
Sugar #11 +0.00%
Coffee (Arabica) -1.88%
Feeder Cattle +0.00%
Lean Hogs +0.00%
Coffee (Robusta) +0.00%
Corn -0.20%
Cotton -0.33%
Soybean Meal +0.90%
Soybeans +0.96%
Lumber +0.16%
Wheat +0.10%
White Sugar +0.00%

Must reads

China’s market plunge.

India doesn’t create wealth. The official disdain towards wealth creation, as most people know, has paradoxically resulted in creating a top-heavy structure of wealth. (LiveMint)

When it comes to investing, the more precise you try to calculate, the further from reality you’re likely to end up. Precise calculations creates a spell of overconfidence, which makes you double down on whatever you want to believe no matter how wrong it is. (Fool)

Worried about US rate hikes? Don’t be. Rising rates don’t always lead to bear markets or recessions. Full rising rate cycles tend to bring only slightly lower-than-normal equity returns; but higher economic and job growth. (Schwab)

Good luck!

Options Daily 28.07.2015

Summary: Aug NIFTY 8400 calls added 291,725 contracts while 9100 calls shed 47,900. On the Put side of the equation, the 8400 strike added 289,175 while the 8500’s shed 171,875.

Our trend model indicates a SHORT on the NIFTY and SHORT on the BANKNIFTY.

JUL NIFTY OI

JUL NIFTY OI chart

JUL BANKNIFTY OI

JUL BANKNIFTY OI chart

AUG NIFTY OI

AUG NIFTY OI chart

AUG BANKNIFTY OI

AUG BANKNIFTY OI chart

JUL NIFTY Volatility

JUL NIFTY Volatility chart

JUL BANKNIFTY Volatility

JUL BANKNIFTY Volatility chart

AUG NIFTY Volatility

AUG NIFTY Volatility chart

AUG BANKNIFTY Volatility

AUG BANKNIFTY Volatility chart
Dotted lines indicated actual underlying volatility. Solid lines are IVs.

Opening Bell 27.07.2015

Your world at 9am

world.2015-07-27

Equities

Major
DAX(DEU) -1.43%
CAC(FRA) -0.58%
UKX(GBR) -1.13%
NKY(JPN) -0.73%
SPX(USA) -1.07%
MINTs
JCI(IDN) -0.33%
INMEX(MEX) -1.23%
NGSEINDX(NGA) -0.40%
XU030(TUR) +0.40%
BRICS
IBOV(BRA) -1.13%
SHCOMP(CHN) -1.74%
NIFTY(IND) -0.79%
INDEXCF(RUS) -1.27%
TOP40(ZAF) -1.70%

Commodities

Energy
Ethanol -2.04%
Heating Oil -0.02%
Natural Gas -0.94%
RBOB Gasoline -0.18%
Brent Crude Oil -0.16%
WTI Crude Oil -0.33%
Metals
Gold 100oz +0.94%
Palladium +0.92%
Platinum +0.77%
Copper +0.00%
Silver 5000oz +0.92%

Currencies

USDEUR:-0.19% USDJPY:-0.26%

MINTs
USDIDR(IDN) +0.00%
USDMXN(MEX) -0.11%
USDNGN(NGA) +0.00%
USDTRY(TUR) +0.10%
BRICS
USDBRL(BRA) +2.11%
USDCNY(CHN) +0.00%
USDINR(IND) +0.43%
USDRUB(RUS) -0.19%
USDZAR(ZAF) -0.55%
Agricultural
Cotton +0.00%
Wheat -1.07%
Cattle -0.09%
Cocoa +0.00%
Corn -2.80%
Feeder Cattle +0.07%
Lean Hogs -1.18%
Lumber -2.13%
Soybean Meal -0.85%
Soybeans -0.78%
Sugar #11 -2.35%
White Sugar +0.00%
Coffee (Arabica) +0.16%
Orange Juice +0.24%
Coffee (Robusta) +0.00%

Credit Indices

Index Change
Markit CDX EM -0.71%
Markit CDX NA HY -0.40%
Markit CDX NA IG +3.04%
Markit iTraxx Asia ex-Japan IG +1.63%
Markit iTraxx Australia +2.19%
Markit iTraxx Europe +1.09%
Markit iTraxx Europe Crossover +11.77%
Markit iTraxx Japan +2.12%
Markit iTraxx SovX Western Europe +0.07%
Markit LCDX (Loan CDS) +0.00%
Markit MCDX (Municipal CDS) +0.49%
Looks like we are setup for another down week…

Must reads

This is not good for rate cuts: 33% surge in onion prices in the past week and prices of vegetables are already higher by about 15-20 per cent as compared to the last year. (TOI, ET, #inflation)

Indian outsourcing firms seem increasingly willing to forego profit for market-share. Good luck with that! (LiveMint)

Get rich so that you can get out? India has seen the second-biggest outflow of high net worth individuals in last 14 years, second only to China, with as many as 61,000 millionaires shifting base to abroad due to reasons like tax, security and child education. (FE)

Retail sales growth in developing countries that are net exporters of commodities slipped to 2.6% in May from 2.7% in April. (FT)

Four tailwinds driving European profit growth past the U.S. (Bloomberg) Here’s how Indian investors can invest in Europe.

Genetic research has become cheaper and democratized. Pick your creature, pick your gene, and you can bet someone somewhere is giving it a go. (Wired)

Good luck!