Broad Equity Market Tone:
- Advance/Decline Line: Substantially Higher
- Sector Performance: Most Sectors Rising
- Volume: Below Average
- Market Leading Stocks: Outperforming
Equity Investor Angst:
- Volatility(VIX) 17.0 -5.65%
- Euro/Yen Carry Return Index 132.63 +.29%
- Emerging Markets Currency Volatility(VXY) 11.67 -.60%
- S&P 500 Implied Correlation 60.34 +.42%
- ISE Sentiment Index 76.0 +7.0%
- Total Put/Call .98 -1.01%
- NYSE Arms .88 +21.97%
Credit Investor Angst:
- North American Investment Grade CDS Index 85.75 -5.6%
- America Energy Sector High-Yield CDS Index 1,825.0 -2.82%
- European Financial Sector CDS Index 75.28 -15.97%
- Western Europe Sovereign Debt CDS Index 28.16 -4.61%
- Asia Pacific Sovereign Debt CDS Index 65.74 -3.16%
- Emerging Market CDS Index 319.87 -3.96%
- iBoxx Offshore RMB China Corporate High Yield Index 125.28 +.36%
- 2-Year Swap Spread 5.25 +.25 basis point
- TED Spread 32.0 -1.5 basis points
- 3-Month EUR/USD Cross-Currency Basis Swap -22.50 -1.5 basis points
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 71.05 +.75%
- 3-Month T-Bill Yield .32% +1.0 basis point
- Yield Curve 102.0 +2.0 basis points
- China Import Iron Ore Spot $57.09/Metric Tonne -1.43%
- Citi US Economic Surprise Index -9.30 +.5 point
- Citi Eurozone Economic Surprise Index -54.80 +.2 point
- Citi Emerging Markets Economic Surprise Index -21.30 -1.8 points
- 10-Year TIPS Spread 1.53% +3.0 basis points
- 22.9% chance of Fed rate hike at April 27 meeting, 50.7% chance at June 15 meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating +150 open in Japan
- China A50 Futures: Indicating +23 open in China
- DAX Futures: Indicating +11 open in Germany
Portfolio:
- Higher: On gains in my medical/retail/biotech/tech sector longs
- Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges
- Market Exposure: Moved to 75% Net Long
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