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) 11.35 -.18%
- Euro/Yen Carry Return Index 125.27 -.10%
- Emerging Markets Currency Volatility(VXY) 10.30 +.10%
- S&P 500 Implied Correlation 45.78 -3.62%
- ISE Sentiment Index 54.0 -5.26%
- Total Put/Call 1.19 +14.42%
- NYSE Arms 1.44 +12.35%
Credit Investor Angst:
- North American Investment Grade CDS Index 65.47 +.17%
- America Energy Sector High-Yield CDS Index 379.0 +1.59%
- European Financial Sector CDS Index 95.61 +4.52%
- Western Europe Sovereign Debt CDS Index 23.59 -.46%
- Asia Pacific Sovereign Debt CDS Index 29.17 -2.85%
- Emerging Market CDS Index 226.79 -.18%
- iBoxx Offshore RMB China Corporate High Yield Index 134.02 +.13%
- 2-Year Swap Spread 31.25 -1.25 basis points
- TED Spread 51.5 -1.25 basis points
- 3-Month EUR/USD Cross-Currency Basis Swap -28.75 unch.
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 71.05 -.46%
- 3-Month T-Bill Yield .52% +1.0 basis point
- Yield Curve 122.0 -4.0 basis points
- China Import Iron Ore Spot $83.29/Metric Tonne +3.34%
- Citi US Economic Surprise Index 41.90 -1.9 points
- Citi Eurozone Economic Surprise Index 52.60 -10.6 points
- Citi Emerging Markets Economic Surprise Index 37.40 -.4 point
- 10-Year TIPS Spread 2.0 -2.0 basis points
- 40.80% chance of Fed rate hike at May 3 meeting, 65.1% chance at June 14 meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating +25 open in Japan
- China A50 Futures: Indicating +36 open in China
- DAX Futures: Indicating +1 open in Germany
Portfolio:
- Slightly Higher: On gains in my in my medical/tech sector longs and emerging markets shorts
- Disclosed Trades: None
- Market Exposure: 75% Net Long
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