Broad Equity Market Tone:
- Advance/Decline Line: Substantially Higher
- Sector Performance: Almost Every Sector Rising
- Volume: Below Average
- Market Leading Stocks: Performing In Line
Equity Investor Angst:
- Volatility(VIX) 14.19 -15.69%
- Euro/Yen Carry Return Index 141.97 -.77%
- Emerging Markets Currency Volatility(VXY) 8.83 -.90%
- S&P 500 Implied Correlation 58.59 -1.89%
- ISE Sentiment Index 105.0 +32.91%
- Total Put/Call .52 -48.0%
- NYSE Arms .66 -27.98%
Credit Investor Angst:
- North American Investment Grade CDS Index 67.69 -2.12%
- America Energy Sector High-Yield CDS Index 1,257.0 -.14%
- European Financial Sector CDS Index 74.42 -6.26%
- Western Europe Sovereign Debt CDS Index 23.38 -5.91%
- Asia Pacific Sovereign Debt CDS Index 58.62 -2.17%
- Emerging Market CDS Index 297.45 -.37%
- iBoxx Offshore RMB China Corporates High Yield Index 119.76 +.44%
- 2-Year Swap Spread 25.0 -.75 basis point
- TED Spread 27.5 +.75 basis point
- 3-Month EUR/USD Cross-Currency Basis Swap -18.75 +.75 basis point
Economic Gauges:
- 3-Month T-Bill Yield -.01% -2.0 basis points
- Yield Curve 176.0 unch.
- China Import Iron Ore Spot $50.30/Metric Tonne +.4%
- Citi US Economic Surprise Index -17.1 +4.7 points
- Citi Eurozone Economic Surprise Index -2.7 +1.2 points
- Citi Emerging Markets Economic Surprise Index -16.0 +3.5 points
- 10-Year TIPS Spread 1.88 -1.0 basis point
- # of Months to 1st Fed Rate Hike(Morgan Stanley) 6.32 -1.11
Overseas Futures:
- Nikkei 225 Futures: Indicating +321 open in Japan
- China A50 Futures: Indicating -537 open in China
- DAX Futures: Indicating -13 open in Germany
Portfolio:
- Higher: On gains in my tech/biotech/medical/retail sector longs
- Disclosed Trades: None
- Market Exposure: 50% Net Long
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