Broad Equity Market Tone:
- Advance/Decline Line: Substantially Lower
- Sector Performance: Almost Every Sector Declining
- Volume: Around Average
- Market Leading Stocks: Underperforming
Equity Investor Angst:
- Volatility(VIX) 23.14 +3.58%
- Euro/Yen Carry Return Index 134.18 +.12%
- Emerging Markets Currency Volatility(VXY) 11.80 -2.16%
- S&P 500 Implied Correlation 63.73 -.06%
- ISE Sentiment Index 97.0 +22.78%
- Total Put/Call .95 -13.64%
- NYSE Arms 1.14 -20.39%
Credit Investor Angst:
- North American Investment Grade CDS Index 105.77 +1.38%
- America Energy Sector High-Yield CDS Index 1,789.0 -1.18%
- European Financial Sector CDS Index 89.90 +1.96%
- Western Europe Sovereign Debt CDS Index 20.47 +6.42%
- Asia Pacific Sovereign Debt CDS Index 76.08 +1.55%
- Emerging Market CDS Index 383.81 +1.87%
- iBoxx Offshore RMB China Corporate High Yield Index 122.03 -.03%
- 2-Year Swap Spread 5.75 -.5 basis point
- TED Spread 32.5 -1.75 basis points
- 3-Month EUR/USD Cross-Currency Basis Swap -23.25 unch.
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 67.02 -.46%
- 3-Month T-Bill Yield .28% -1.0 basis point
- Yield Curve 115.0 -4.0 basis points
- China Import Iron Ore Spot $41.57/Metric Tonne -1.49%
- Citi US Economic Surprise Index -40.7 +3.1 points
- Citi Eurozone Economic Surprise Index -14.0 -8.2 points
- Citi Emerging Markets Economic Surprise Index -9.1 -1.1 points
- 10-Year TIPS Spread 1.34% unch.
- 25.0% chance of Fed rate hike at March 16 meeting, 30.7% chance at April 27 meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating -185 open in Japan
- China A50 Futures: Indicating -97 open in China
- DAX Futures: Indicating -25 open in Germany
Portfolio:
- Slightly Lower: On losses in my tech/biotech/medical/retail sector longs
- Disclosed Trades: Added to my (IWM)/(QQQ) hedges and to my (EEM) short
- Market Exposure: Moved to 25% Net Long
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