Broad Equity Market Tone:
- Advance/Decline Line: Lower
- Sector Performance: Mixed
- Volume: Slightly Above Average
- Market Leading Stocks: Underperforming
Equity Investor Angst:
- Volatility(VIX) 22.33 -8.11%
- Euro/Yen Carry Return Index 133.40 -.14%
- Emerging Markets Currency Volatility(VXY) 11.95 +.42%
- S&P 500 Implied Correlation 60.89 -2.23%
- ISE Sentiment Index 93.0 +86.0%
- Total Put/Call 1.03 -8.04%
- NYSE Arms 1.09 +46.22%
Credit Investor Angst:
- North American Investment Grade CDS Index 99.0 +.97%
- America Energy Sector High-Yield CDS Index 1,715.0 +5.59%
- European Financial Sector CDS Index 81.09 +1.52%
- Western Europe Sovereign Debt CDS Index 17.89 +.22%
- Asia Pacific Sovereign Debt CDS Index 76.40 +.07%
- Emerging Market CDS Index 379.59 +.61%
- iBoxx Offshore RMB China Corporate High Yield Index 123.32 -.13%
- 2-Year Swap Spread 7.25 -1.0 basis point
- TED Spread 41.25 -1.5 basis points
- 3-Month EUR/USD Cross-Currency Basis Swap -21.5 -1.0 basis point
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 67.47 -.06%
- 3-Month T-Bill Yield .20% +2.0 basis points
- Yield Curve 118.0 -5.0 basis points
- China Import Iron Ore Spot $41.19/Metric Tonne -.29%
- Citi US Economic Surprise Index -24.1 -1.5 points
- Citi Eurozone Economic Surprise Index 23.40 -.6 point
- Citi Emerging Markets Economic Surprise Index -10.10 -8.3 points
- 10-Year TIPS Spread 1.46% -2.0 basis points
- 36.8% chance of Fed rate hike at March 16 meeting, 42.6% chance at April 27 meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating +171 open in Japan
- China A50 Futures: Indicating -121 open in China
- DAX Futures: Indicating +14 open in Germany
Portfolio:
- Higher: On gains in my tech/biotech/medical sector longs
- Disclosed Trades: Added to my (IWM)/(QQQ) hedges, then covered some of them
- Market Exposure: 50% Net Long
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