Broad Equity Market Tone:
- Advance/Decline Line: Substantially Higher
- Sector Performance: Almost Every Sector Rising
- Volume: Above Average
- Market Leading Stocks: Performing In Line
Equity Investor Angst:
- Volatility(VIX) 23.49 -12.44%
- Euro/Yen Carry Return Index 133.89 +.16%
- Emerging Markets Currency Volatility(VXY) 12.06 -3.44%
- S&P 500 Implied Correlation 64.98 +.63%
- ISE Sentiment Index 93.0 -23.1%
- Total Put/Call 1.01 -7.34%
- NYSE Arms 1.56 +82.42%
Credit Investor Angst:
- North American Investment Grade CDS Index 104.93 -4.07%
- America Energy Sector High-Yield CDS Index 1,815.0 -7.02%
- European Financial Sector CDS Index 88.15 -3.13%
- Western Europe Sovereign Debt CDS Index 19.23 -11.73%
- Asia Pacific Sovereign Debt CDS Index 75.08 -2.29%
- Emerging Market CDS Index 378.21 -2.86%
- iBoxx Offshore RMB China Corporate High Yield Index 122.07 +.07%
- 2-Year Swap Spread 6.25 unch.
- TED Spread 34.25 -2.75 basis points
- 3-Month EUR/USD Cross-Currency Basis Swap -23.25 unch.
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 67.27 +.91%
- 3-Month T-Bill Yield .29% +3.0 basis points
- Yield Curve 119.0 +3.0 basis points
- China Import Iron Ore Spot $42.20/Metric Tonne +2.20%
- Citi US Economic Surprise Index -43.8 +1.6 points
- Citi Eurozone Economic Surprise Index -5.8 -17.9 points
- Citi Emerging Markets Economic Surprise Index -8.0 -.1 point
- 10-Year TIPS Spread 1.34% +1.0 basis point
- 26.3% chance of Fed rate hike at March 16 meeting, 31.9% chance at April 27 meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating +261 open in Japan
- China A50 Futures: Indicating +3 open in China
- DAX Futures: Indicating +29 open in Germany
Portfolio:
- Higher: On gains in my tech/biotech/retail/medical sector longs
- Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges and some of my (EEM) short
- Market Exposure: Moved to 75% Net Long
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