Broad Equity Market Tone:
- Advance/Decline Line: Substantially Higher
- Sector Performance: Almost Every Sector Declining
- Volume: Below Average
- Market Leading Stocks: Performing In Line
Equity Investor Angst:
- Volatility(VIX) 19.10 -6.97%
- Euro/Yen Carry Return Index 130.14 -.60%
- Emerging Markets Currency Volatility(VXY) 12.29 -1.84%
- S&P 500 Implied Correlation 61.05 -1.94%
- ISE Sentiment Index 89.0 -19.09%
- Total Put/Call .95 -7.77%
- NYSE Arms .47 -74.29%
Credit Investor Angst:
- North American Investment Grade CDS Index 114.29 -2.96%
- America Energy Sector High-Yield CDS Index 2,350.0 +3.19%
- European Financial Sector CDS Index 115.96 -4.36%
- Western Europe Sovereign Debt CDS Index 32.77 +.34%
- Asia Pacific Sovereign Debt CDS Index 77.05 -1.90%
- Emerging Market CDS Index 365.04 -3.28%
- iBoxx Offshore RMB China Corporate High Yield Index 123.38 +.08%
- 2-Year Swap Spread 5.50 -.5 basis point
- TED Spread 32.75 -.25 basis point
- 3-Month EUR/USD Cross-Currency Basis Swap -23.75 -1.0 basis point
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 68.89 +.58%
- 3-Month T-Bill Yield .30% +1.0 basis point
- Yield Curve 100.0 -1.0 basis point
- China Import Iron Ore Spot $51.52/Metric Tonne +6.18%
- Citi US Economic Surprise Index -33.70 +3.3 points
- Citi Eurozone Economic Surprise Index -51.70 -19.4 points
- Citi Emerging Markets Economic Surprise Index -8.30 -1.3 points
- 10-Year TIPS Spread 1.31% +5.0 basis points
- 13.5% chance of Fed rate hike at April 27 meeting, 25.6% chance at June 15 meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating +79 open in Japan
- China A50 Futures: Indicating +78 open in China
- DAX Futures: Indicating -10 open in Germany
Portfolio:
- Higher: On gains in my biotech/medical/tech/retail sector longs
- Disclosed Trades: None
- Market Exposure: 50% Net Long
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