Broad Equity Market Tone:
- Advance/Decline Line: Lower
- Sector Performance: Mixed
- Volume: Below Average
- Market Leading Stocks: Performing In Line
Equity Investor Angst:
- Volatility(VIX) 11.59 +2.39%
- Euro/Yen Carry Return Index 128.14 -.4%
- Emerging Markets Currency Volatility(VXY) 11.16 +.72%
- S&P 500 Implied Correlation 46.69 -7.08%
- ISE Sentiment Index 111.0 +70.77%
- Total Put/Call .98 +2.08%
- NYSE Arms 1.29 +16.49%
Credit Investor Angst:
- North American Investment Grade CDS Index 65.31 +1.38%
- America Energy Sector High-Yield CDS Index 418.0 -.68%
- European Financial Sector CDS Index 87.19 -.36%
- Western Europe Sovereign Debt CDS Index 20.29 -2.41%
- Asia Pacific Sovereign Debt CDS Index 34.39 +1.96%
- Emerging Market CDS Index 234.94 +2.17%
- iBoxx Offshore RMB China Corporate High Yield Index 132.67 -.18%
- 2-Year Swap Spread 28.0 +1.0 basis point
- TED Spread 51.25 +1.5 basis points
- 3-Month EUR/USD Cross-Currency Basis Swap -44.75 +2.0 basis points
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 69.84 -.19%
- 3-Month T-Bill Yield .50% -1.0 basis point
- Yield Curve 119.0 -1.0 basis point
- China Import Iron Ore Spot $77.73/Metric Tonne +1.94%
- Citi US Economic Surprise Index 28.50 +1.5 points
- Citi Eurozone Economic Surprise Index 71.0 -.1 basis point
- Citi Emerging Markets Economic Surprise Index 26.70 +.7 point
- 10-Year TIPS Spread 1.97 -1.0 basis point
- 33.3% chance of Fed rate hike at March 15 meeting, 46.6% chance at May 3 meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating +31 open in Japan
- China A50 Futures: Indicating +18 open in China
- DAX Futures: Indicating -9 open in Germany
Portfolio:
- Slightly Higher: On gains in my tech/biotech/medical sector longs
- Disclosed Trades: Added to my (IWM)/(QQQ) hedges
- Market Exposure: Moved to 25% Net Long
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