Broad Equity Market Tone:
- Advance/Decline Line: Modestly Lower
- Sector Performance: Mixed
- Volume: Slightly Above Average
- Market Leading Stocks: Performing In Line
Equity Investor Angst:
- Volatility(VIX) 12.0 +1.61%
- Euro/Yen Carry Return Index 126.71 -.53%
- Emerging Markets Currency Volatility(VXY) 10.42 -1.51%
- S&P 500 Implied Correlation 46.05 +.99%
- ISE Sentiment Index 87.0 +10.13%
- Total Put/Call .99 +7.61%
- NYSE Arms 1.07 -6.79%
Credit Investor Angst:
- North American Investment Grade CDS Index 65.73 -.26%
- America Energy Sector High-Yield CDS Index 393.0 -2.64%
- European Financial Sector CDS Index 88.87 -1.65%
- Western Europe Sovereign Debt CDS Index 22.89 +1.96%
- Asia Pacific Sovereign Debt CDS Index 32.20 -.32%
- Emerging Market CDS Index 229.17 -2.58%
- iBoxx Offshore RMB China Corporate High Yield Index 133.49 +.10%
- 2-Year Swap Spread 30.0 +.5 basis point
- TED Spread 53.75 +1.5 basis points
- 3-Month EUR/USD Cross-Currency Basis Swap -29.25 +.75 basis point
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 71.16 +.45%
- 3-Month T-Bill Yield .50% unch.
- Yield Curve 127.0 +1.0 basis point
- China Import Iron Ore Spot $83.34/Metric Tonne n/a
- Citi US Economic Surprise Index 39.40 unch.
- Citi Eurozone Economic Surprise Index 57.30 -.3 point
- Citi Emerging Markets Economic Surprise Index 43.70 +6.6 points
- 10-Year TIPS Spread 2.05 -1.0 basis point
- 48.6% chance of Fed rate hike at May 3 meeting, 71.4% chance at June 14 meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating +130 open in Japan
- China A50 Futures: Indicating +109 open in China
- DAX Futures: Indicating +7 open in Germany
Portfolio:
- Slightly Lower: On losses in my in my biotech/tech sector longs
- Disclosed Trades: None
- Market Exposure: 75% Net Long
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