Broad Equity Market Tone:
- Advance/Decline Line: Modestly Higher
- Sector Performance: Mixed
- Volume: Around Average
- Market Leading Stocks: Performing In Line
Equity Investor Angst:
- Volatility(VIX) 16.32 -4.51%
- Euro/Yen Carry Return Index 130.07 +.92%
- Emerging Markets Currency Volatility(VXY) 11.47 -.09%
- S&P 500 Implied Correlation 55.81 -2.5%
- ISE Sentiment Index 100.0 -5.66%
- Total Put/Call .78 -2.5%
- NYSE Arms .70 +70.66%
Credit Investor Angst:
- North American Investment Grade CDS Index 98.43 -1.60%
- America Energy Sector High-Yield CDS Index 2,148.0 +32.44%
- European Financial Sector CDS Index 100.44 -1.05%
- Western Europe Sovereign Debt CDS Index 30.62 -5.22%
- Asia Pacific Sovereign Debt CDS Index 70.19 -3.83%
- Emerging Market CDS Index 345.99 -2.29%
- iBoxx Offshore RMB China Corporate High Yield Index 124.32 +.16%
- 2-Year Swap Spread 4.25 -.5 basis point
- TED Spread 32.25 +1.0 basis point
- 3-Month EUR/USD Cross-Currency Basis Swap -31.0 +.25 basis point
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 69.63 +.51%
- 3-Month T-Bill Yield .26% -5.0 basis points
- Yield Curve 98.0 -1.0 basis point
- China Import Iron Ore Spot $51.20/Metric Tonne -2.48%
- Citi US Economic Surprise Index -12.30 -2.2 points
- Citi Eurozone Economic Surprise Index -62.90 +4.6 points
- Citi Emerging Markets Economic Surprise Index -9.20 -.1 point
- 10-Year TIPS Spread 1.54% +2.0 basis points
- 19.0% chance of Fed rate hike at April 27 meeting, 35.2% chance at June 15 meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating -135 open in Japan
- China A50 Futures: Indicating -11 open in China
- DAX Futures: Indicating +23 open in Germany
Portfolio:
- Slightly Lower: On losses in my biotech sector longs and emerging markets shorts
- Disclosed Trades: None
- Market Exposure: 50% Net Long
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