Broad Equity Market Tone:
- Advance/Decline Line: Higher
- Sector Performance: Most Sectors Rising
- Volume: Slightly Below Average
- Market Leading Stocks: Performing In Line
Equity Investor Angst:
- Volatility(VIX) 15.09 -7.3%
- Euro/Yen Carry Return Index 129.25 +.4%
- Emerging Markets Currency Volatility(VXY) 11.5 -1.88%
- S&P 500 Implied Correlation 56.95 -4.9%
- ISE Sentiment Index 67.0 -30.21%
- Total Put/Call .93 +8.14%
- NYSE Arms .60 -35.92%
Credit Investor Angst:
- North American Investment Grade CDS Index 80.11 -1.40%
- America Energy Sector High-Yield CDS Index 1,418.0 -2.41%
- European Financial Sector CDS Index 98.64 -1.33%
- Western Europe Sovereign Debt CDS Index 27.75 -1.51%
- Asia Pacific Sovereign Debt CDS Index 57.84 -1.52%
- Emerging Market CDS Index 295.0 -2.89%
- iBoxx Offshore RMB China Corporate High Yield Index 127.28 +.04%
- 2-Year Swap Spread 13.0 -1.75 basis points
- TED Spread 41.75 +1.0 basis point
- 3-Month EUR/USD Cross-Currency Basis Swap -23.5 -1.5 basis points
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 72.95 +.35%
- 3-Month T-Bill Yield .21% -1.0 basis point
- Yield Curve 105.0 +2.0 basis points
- China Import Iron Ore Spot $59.22/Metric Tonne +4.59%
- Citi US Economic Surprise Index -3.80 -.3 point
- Citi Eurozone Economic Surprise Index -26.60 +.9 point
- Citi Emerging Markets Economic Surprise Index 12.7 +3.6 points
- 10-Year TIPS Spread 1.57% -1.0 basis point
- 17.6% chance of Fed rate hike at June 15 meeting, 28.9% chance at July 27 meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating +227 open in Japan
- China A50 Futures: Indicating +49 open in China
- DAX Futures: Indicating +59 open in Germany
Portfolio:
- Higher: On gains in my biotech/medical/tech/retail sector longs
- Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges and some of my (EEM) short
- Market Exposure: Moved to 50% Net Long
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