Equities
| MINTs | |
|---|---|
| JCI(IDN) | +3.41% |
| INMEX(MEX) | +3.45% |
| NGSEINDX(NGA) | +2.68% |
| XU030(TUR) | +3.92% |
| BRICS | |
|---|---|
| IBOV(BRA) | -0.62% |
| SHCOMP(CHN) | -0.73% |
| NIFTY(IND) | +3.78% |
| INDEXCF(RUS) | +5.05% |
| TOP40(ZAF) | +2.81% |
Commodities
| Energy | |
|---|---|
| Ethanol | +7.34% |
| RBOB Gasoline | +0.77% |
| Brent Crude Oil | -1.73% |
| WTI Crude Oil | -5.25% |
| Natural Gas | -4.87% |
| Heating Oil | -1.34% |
| Metals | |
|---|---|
| Gold 100oz | +1.57% |
| Platinum | -0.02% |
| Copper | -3.79% |
| Palladium | +2.81% |
| Silver 5000oz | +3.95% |
Currencies
| MINTs | |
|---|---|
| USDIDR(IDN) | -1.04% |
| USDMXN(MEX) | +0.28% |
| USDNGN(NGA) | +3.07% |
| USDTRY(TUR) | +0.75% |
| BRICS | |
|---|---|
| USDBRL(BRA) | -1.46% |
| USDCNY(CHN) | +0.34% |
| USDINR(IND) | -0.71% |
| USDRUB(RUS) | -1.89% |
| USDZAR(ZAF) | -1.42% |
| Agricultural | |
|---|---|
| Lean Hogs | -6.85% |
| Orange Juice | +0.44% |
| Sugar #11 | -0.78% |
| Wheat | -1.12% |
| White Sugar | -1.18% |
| Cattle | -2.87% |
| Corn | +0.19% |
| Cotton | -3.43% |
| Lumber | -0.03% |
| Coffee (Arabica) | -5.09% |
| Feeder Cattle | -0.29% |
| Soybean Meal | +1.41% |
| Cocoa | -4.63% |
| Coffee (Robusta) | -2.63% |
| Soybeans | -1.82% |
Credit Indices
| Index | Change |
|---|---|
| Markit CDX EM | -0.18% |
| Markit CDX NA HY | +0.60% |
| Markit CDX NA IG | -2.83% |
| Markit iTraxx Asia ex-Japan IG | -3.93% |
| Markit iTraxx Australia | -1.34% |
| Markit iTraxx Europe | -3.79% |
| Markit iTraxx Europe Crossover | -22.27% |
| Markit iTraxx Japan | -1.84% |
| Markit iTraxx SovX Western Europe | -1.29% |
| Markit LCDX (Loan CDS) | +0.08% |
| Markit MCDX (Municipal CDS) | +0.30% |
Markets rallied and the Euro tumbled on ECB’s 60bn QE program.
Index Returns
Sector Performance
Advance Decline
Market Cap Decile Performance
| Decile | Mkt. Cap. | Adv/Decl |
|---|---|---|
| 1 (micro) | -0.90% | 68/68 |
| 2 | +0.87% | 71/63 |
| 3 | +2.38% | 74/61 |
| 4 | +0.11% | 75/61 |
| 5 | +1.42% | 70/65 |
| 6 | +1.20% | 71/64 |
| 7 | +3.52% | 74/62 |
| 8 | +1.50% | 72/63 |
| 9 | +2.00% | 73/62 |
| 10 (mega) | +2.91% | 62/74 |
A broad-based rally driven by Eurozone EQ, falling oil, rate cuts, budget… Oh my!
Top Winners and Losers
| TATAMOTORS | +11.93% |
| BHARTIARTL | +12.03% |
| ADANIENT | +12.70% |
| M&MFIN | -18.22% |
| SRTRANSFIN | -5.98% |
| PETRONET | -4.61% |
The Adani stable was on fire this week…
ETF Performance
| INFRABEES | +6.67% |
| BANKBEES | +4.46% |
| NIFTYBEES | +3.59% |
| GOLDBEES | +1.78% |
| JUNIORBEES | +1.77% |
| CPSEETF | +0.64% |
| PSUBNKBEES | +0.27% |
No asset left behind…
Yield Curve
Bond Indices
| Sub Index | Change in YTM | Total Return(%) |
|---|---|---|
| GSEC TB | -0.11 | +0.18% |
| GSEC SUB 1-3 | +0.06 | +0.21% |
| GSEC SUB 3-8 | +0.08 | -0.05% |
| GSEC SUB 8 | +0.04 | -0.11% |
Weird that the long end of the curve ended the week in the red.
Investment Theme Performance
| CNX 100 50-Day Tactical | +2.68% |
| ADAG Mania | +2.64% |
| Momentum 200 | +2.58% |
| Efficient Growth | +2.19% |
| Market Elephants | +1.89% |
| Magic Formula Investing | +1.89% |
| Quality to Price | +1.63% |
| Auto | +1.21% |
| Growth with Moat | +0.96% |
| Balance-sheet Strength | +0.81% |
| Market Fliers | +0.72% |
| Financial Strength Value | +0.56% |
| Old Economy Value | +0.15% |
| Refract: PPFAS Long Term Value Fund | +0.01% |
| The Other Value | -0.28% |
| IT 3rd Benchers | -1.48% |
| Piotroski ROC Small Caps | -1.83% |
Large-cap dominance drove CNX 100 Tactical this week. Momentum was not far behind…
Thought for the weekend
Research:
Study participants from a range of ages generally did not enjoy spending even brief periods of time alone in a room with nothing to do but think, ponder or daydream. The participants, by and large, enjoyed much more doing external activities such as listening to music or using a smartphone. Some even preferred to give themselves mild electric shocks than to think.
Source: Most people are just not comfortable in their own heads