Broad Equity Market Tone:
- Advance/Decline Line: Higher
- Sector Performance: Most Sectors Rising
- Volume: Slightly Below Average
- Market Leading Stocks: Outperforming
Equity Investor Angst:
- Volatility(VIX) 12.65 -4.46%
- Euro/Yen Carry Return Index 129.69 +.06%
- Emerging Markets Currency Volatility(VXY) 10.73 -4.59%
- S&P 500 Implied Correlation 53.49 -3.35%
- ISE Sentiment Index 72.0 -29.41%
- Total Put/Call .87 +42.6%
- NYSE Arms .54 -29.0%
Credit Investor Angst:
- North American Investment Grade CDS Index 72.03 -4.91%
- America Energy Sector High-Yield CDS Index 1,109.0 -.87%
- European Financial Sector CDS Index 86.50 -1.14%
- Western Europe Sovereign Debt CDS Index 27.32 +1.0%
- Asia Pacific Sovereign Debt CDS Index 56.97 +1.31%
- Emerging Market CDS Index 270.80 -.90%
- iBoxx Offshore RMB China Corporate High Yield Index 127.36 -.07%
- 2-Year Swap Spread 14.0 +.5 basis point
- TED Spread 42.0 +.5 basis point
- 3-Month EUR/USD Cross-Currency Basis Swap -23.0 -.75 basis point
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 73.42 +.17%
- 3-Month T-Bill Yield .22% +1.0 basis point
- Yield Curve 104.0 +2.0 basis points
- China Import Iron Ore Spot $64.77/Metric Tonne +3.05%
- Citi US Economic Surprise Index -21.80 +.1 point
- Citi Eurozone Economic Surprise Index -14.50 +3.3 points
- Citi Emerging Markets Economic Surprise Index 15.3 -.3 point
- 10-Year TIPS Spread 1.64% +2.0 basis points
- 19.6% chance of Fed rate hike at June 15 meeting, 32.2% chance at July 27 meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating +424 open in Japan
- China A50 Futures: Indicating -14 open in China
- DAX Futures: Indicating +64 open in Germany
Portfolio:
- Higher: On gains in my tech/biotech/retail/medical sector longs
- Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges
- Market Exposure: Moved to 50% Net Long
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