A typical hostHud display might look like this:
SSOT: 40 SobLoc: 2313 Sec 40: 042, D 17.6, W 0.4/29%, B 10239 Sec 86: 045, D 0.0, W 1.0/71%, B 4420 Local: 000
"SSOT: 40" means that sector 40 is the "source of truth" for your avatar, i.e., your client is listening to sector 40 for avatar updates. Most of the time this means that your avatar is in sector 40, but if you have just walked into sector 40 from an adjoining sector it may take a few seconds for your SSOT to change.
Sec lines, of which there is usually only one unless you are near the boundary between sectors, give information about the indicated sector:
Local value seems be be a total of objects which are being served from local information. Prior to V2.06, this was usually inventory items waiting to load after a sector boundary crossing. In V2.06, these inventory reloads no longer occur and in general the number of
Local objects does not increase after a sector crossing as a general rule. It does jump up (and then sometimes decrease to zero) when flying close to the Cannery area, leading to a speculation that it also accounts for uudobs such as houses for which the server has not yet sent updated information. A [post] by Helper_Support in forums about the V2.06 inventory changes leads to a contrary speculation that this number still represents inventory items that are not in the same sector as you are, but that the system is now just being much less proactive about moving the inventory items around when you cross sector boundaries.