Broad Equity Market Tone:
- Advance/Decline Line: Substantially Higher
- Sector Performance: Most Sectors Rising
- Volume: Slightly Below Average
- Market Leading Stocks: Outperforming
Equity Investor Angst:
- Volatility(VIX) 13.88 -6.53%
- Euro/Yen Carry Return Index 128.81 -.27%
- Emerging Markets Currency Volatility(VXY) 11.41 -.35%
- S&P 500 Implied Correlation 56.90 -.04%
- ISE Sentiment Index 130.0 +64.56%
- Total Put/Call .59 -36.56%
- NYSE Arms .85 +42.69%
Credit Investor Angst:
- North American Investment Grade CDS Index 78.70 -.99%
- America Energy Sector High-Yield CDS Index 1,432.0 +6.69%
- European Financial Sector CDS Index 93.90 -4.73%
- Western Europe Sovereign Debt CDS Index 27.58 -.56%
- Asia Pacific Sovereign Debt CDS Index 56.34 -2.04%
- Emerging Market CDS Index 285.50 -3.56%
- iBoxx Offshore RMB China Corporate High Yield Index 127.29 +.01%
- 2-Year Swap Spread 12.0 -1.0 basis point
- TED Spread 40.0 -1.75 basis points
- 3-Month EUR/USD Cross-Currency Basis Swap -24.0 -.5 basis point
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 72.77 +.11%
- 3-Month T-Bill Yield .22% +1.0 basis point
- Yield Curve 102.0 -3.0 basis points
- China Import Iron Ore Spot $60.48/Metric Tonne +2.13%
- Citi US Economic Surprise Index -4.80 -1.0 point
- Citi Eurozone Economic Surprise Index -27.10 -.5 point
- Citi Emerging Markets Economic Surprise Index 13.7 +1.0 point
- 10-Year TIPS Spread 1.57% unch.
- 17.6% chance of Fed rate hike at June 15 meeting, 27.3% chance at July 27 meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating +289 open in Japan
- China A50 Futures: Indicating +104 open in China
- DAX Futures: Indicating +27 open in Germany
Portfolio:
- Higher: On gains in my biotech/medical/tech/retail sector longs
- Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges
- Market Exposure: Moved to 75% Net Long
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