Broad Equity Market Tone:
- Advance/Decline Line: Modestly Lower
- Sector Performance: Mixed
- Volume: Below Average
- Market Leading Stocks: Performing In Line
Equity Investor Angst:
- Volatility(VIX) 10.52 -1.03%
- Euro/Yen Carry Return Index 128.54 +.58%
- Emerging Markets Currency Volatility(VXY) 10.78 +1.32%
- S&P 500 Implied Correlation 47.15 +2.97%
- ISE Sentiment Index 74.0 -21.28%
- Total Put/Call .97 +11.49%
- NYSE Arms 1.02 -25.41%
Credit Investor Angst:
- North American Investment Grade CDS Index 64.17 +.29%
- America Energy Sector High-Yield CDS Index 404.0 +.22%
- European Financial Sector CDS Index 87.13 +1.72%
- Western Europe Sovereign Debt CDS Index 21.81 +2.54%
- Asia Pacific Sovereign Debt CDS Index 32.29 -1.13%
- Emerging Market CDS Index 234.76 -.82%
- iBoxx Offshore RMB China Corporate High Yield Index 133.41 +.04%
- 2-Year Swap Spread 29.75 +1.0 basis point
- TED Spread 53.75 +.25 basis point
- 3-Month EUR/USD Cross-Currency Basis Swap -37.5 +.25 basis point
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 70.37 +.12%
- 3-Month T-Bill Yield .50% +1.0 basis point
- Yield Curve 127.0 -1.0 basis point
- China Import Iron Ore Spot $83.34/Metric Tonne unch.
- Citi US Economic Surprise Index 35.80 n/a
- Citi Eurozone Economic Surprise Index 51.0 n/a
- Citi Emerging Markets Economic Surprise Index 39.50 n/a
- 10-Year TIPS Spread 2.07 unch.
- 36.3% chance of Fed rate hike at March 15 meeting, 50.4% chance at May 3 meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating +33 open in Japan
- China A50 Futures: Indicating +124 open in China
- DAX Futures: Indicating -4 open in Germany
Portfolio:
- Slightly Higher: On gains in my in my tech/biotech/medical sector longs
- Disclosed Trades: None
- Market Exposure: 75% Net Long
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