Broad Equity Market Tone:
- Advance/Decline Line: Substantially Lower
- Sector Performance: Almost Every Sector Declining
- Volume: Below Average
- Market Leading Stocks: Performing In Line
Equity Investor Angst:
- Volatility(VIX) 12.79 +2.48%
- Euro/Yen Carry Return Index 127.89 +.46%
- Emerging Markets Currency Volatility(VXY) 11.01 +1.10%
- S&P 500 Implied Correlation 46.98 -.23%
- ISE Sentiment Index 67.0 +91.2%
- Total Put/Call .88 -18.52%
- NYSE Arms .77 -30.9%
Credit Investor Angst:
- North American Investment Grade CDS Index 66.11 +.32%
- America Energy Sector High-Yield CDS Index 434.0 -7.57%
- European Financial Sector CDS Index 86.27 +.22%
- Western Europe Sovereign Debt CDS Index 20.87 -1.0%
- Asia Pacific Sovereign Debt CDS Index 34.71 +2.06%
- Emerging Market CDS Index 240.12 +.99%
- iBoxx Offshore RMB China Corporate High Yield Index 133.01 +.04%
- 2-Year Swap Spread 31.0 +1.5 basis points
- TED Spread 52.25 +2.25 basis points
- 3-Month EUR/USD Cross-Currency Basis Swap -42.25 +.25 basis point
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 69.62 -.09%
- 3-Month T-Bill Yield .51% -1.0 basis point
- Yield Curve 124.0 +4.0 basis points
- China Import Iron Ore Spot $80.99/Metric Tonne -1.29%
- Citi US Economic Surprise Index 45.20 +5.7 points
- Citi Eurozone Economic Surprise Index 66.10 -1.9 basis points
- Citi Emerging Markets Economic Surprise Index 38.30 -.1 point
- 10-Year TIPS Spread 2.06 +4.0 basis points
- 36.6% chance of Fed rate hike at March 15 meeting, 52.0% chance at May 3 meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating +3 open in Japan
- China A50 Futures: Indicating +25 open in China
- DAX Futures: Indicating -27 open in Germany
Portfolio:
- Lower: On losses in my in my retail/biotech/medical sector longs
- Disclosed Trades: None
- Market Exposure: 50% Net Long
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