Broad Equity Market Tone:
- Advance/Decline Line: Modestly Higher
- Sector Performance: Most Sectors Rising
- Volume: Around Average
- Market Leading Stocks: Performing In Line
Equity Investor Angst:
- Volatility(VIX) 17.34 -2.03%
- Euro/Yen Carry Return Index 128.80 -.54%
- Emerging Markets Currency Volatility(VXY) 11.47 -1.71%
- S&P 500 Implied Correlation 58.48 +1.18%
- ISE Sentiment Index 104.0 +36.84%
- Total Put/Call .78 -11.36%
- NYSE Arms .40 -69.03%
Credit Investor Angst:
- North American Investment Grade CDS Index 100.68 +.17%
- America Energy Sector High-Yield CDS Index 1,611.0 -31.1%
- European Financial Sector CDS Index 101.50 -1.58%
- Western Europe Sovereign Debt CDS Index 32.30 -1.57%
- Asia Pacific Sovereign Debt CDS Index 72.97 -.08%
- Emerging Market CDS Index 353.83 +.28%
- iBoxx Offshore RMB China Corporate High Yield Index 124.12 +.11%
- 2-Year Swap Spread 4.75 +.75 basis point
- TED Spread 31.25 -.25 basis point
- 3-Month EUR/USD Cross-Currency Basis Swap -31.25 -1.0 basis point
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 69.29 +.37%
- 3-Month T-Bill Yield .31% -1.0 basis point
- Yield Curve 99.0 +1.0 basis point
- China Import Iron Ore Spot $52.50/Metric Tonne +2.06%
- Citi US Economic Surprise Index -10.10 +2.6 points
- Citi Eurozone Economic Surprise Index -67.50 +.2 point
- Citi Emerging Markets Economic Surprise Index -9.10 -.3 point
- 10-Year TIPS Spread 1.52% +3.0 basis points
- 22.6% chance of Fed rate hike at April 27 meeting, 38.1% chance at June 15 meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating -56 open in Japan
- China A50 Futures: Indicating -12 open in China
- DAX Futures: Indicating -13 open in Germany
Portfolio:
- Slightly Higher: On gains in my medical/biotech/retail sector longs
- Disclosed Trades: None
- Market Exposure: 50% Net Long
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