Broad Equity Market Tone:
- Advance/Decline Line: Slightly Higher
- Sector Performance: Mixed
- Volume: Slightly Below Average
- Market Leading Stocks: Performing In Line
Equity Investor Angst:
- Volatility(VIX) 21.05 +.33%
- Euro/Yen Carry Return Index 128.62 -.36%
- Emerging Markets Currency Volatility(VXY) 12.29 +.24%
- S&P 500 Implied Correlation 62.87 -.62%
- ISE Sentiment Index 89.0 +27.14%
- Total Put/Call 1.03 -8.04%
- NYSE Arms 1.56 -15.96%
Credit Investor Angst:
- North American Investment Grade CDS Index 116.25 +.22%
- America Energy Sector High-Yield CDS Index 2,339.0 +2.67%
- European Financial Sector CDS Index 122.88 +4.57%
- Western Europe Sovereign Debt CDS Index 32.83 +1.77%
- Asia Pacific Sovereign Debt CDS Index 77.99 -1.38%
- Emerging Market CDS Index 367.32 -.57%
- iBoxx Offshore RMB China Corporate High Yield Index 123.70 +.15%
- 2-Year Swap Spread 4.75 -1.0 basis point
- TED Spread 30.5 -.75 basis point
- 3-Month EUR/USD Cross-Currency Basis Swap -24.0 +.75 basis point
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 68.54 -.14%
- 3-Month T-Bill Yield .33% +1.0 basis point
- Yield Curve 99.0 -1.0 basis point
- China Import Iron Ore Spot $51.64/Metric Tonne +.08%
- Citi US Economic Surprise Index -38.60 -2.7 points
- Citi Eurozone Economic Surprise Index -54.30 +1.3 points
- Citi Emerging Markets Economic Surprise Index -8.70 -.5 point
- 10-Year TIPS Spread 1.37% +4.0 basis points
- 15.4% chance of Fed rate hike at April 27 meeting, 25.5% chance at June 15 meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating -25 open in Japan
- China A50 Futures: Indicating -34 open in China
- DAX Futures: Indicating +92 open in Germany
Portfolio:
- Higher: On gains in my tech/biotech/medical/retail sector longs
- Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges
- Market Exposure: Moved to 50% Net Long
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