Broad Equity Market Tone:
- Advance/Decline Line: Substantially Higher
- Sector Performance: Almost Every Sector Rising
- Volume: Slightly Above Average
- Market Leading Stocks: Outperforming
Equity Investor Angst:
- Volatility(VIX) 10.90 -4.8%
- Euro/Yen Carry Return Index 125.93 +.7%
- Emerging Markets Currency Volatility(VXY) 10.11 -2.6%
- S&P 500 Implied Correlation 45.70 -3.01%
- ISE Sentiment Index 71.0 -1.0%
- Total Put/Call .91 -5.21%
- NYSE Arms .85 -16.16%
Credit Investor Angst:
- North American Investment Grade CDS Index 64.96 -2.28%
- America Energy Sector High-Yield CDS Index 381.0 -.48%
- European Financial Sector CDS Index 92.0 -2.72%
- Western Europe Sovereign Debt CDS Index 23.90 -1.54%
- Asia Pacific Sovereign Debt CDS Index 29.42 -.91%
- Emerging Market CDS Index 230.20 unch.
- iBoxx Offshore RMB China Corporate High Yield Index 134.29 +.09%
- 2-Year Swap Spread 31.0 +.5 basis point
- TED Spread 50.5 unch.
- 3-Month EUR/USD Cross-Currency Basis Swap -25.75 +1.0 basis point
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 71.20 +.13%
- 3-Month T-Bill Yield .54% +1.0 basis point
- Yield Curve 122.0 +2.0 basis points
- China Import Iron Ore Spot $83.84/Metric Tonne +.37%
- Citi US Economic Surprise Index 42.40 +1.5 points
- Citi Eurozone Economic Surprise Index 48.10 -2.9 points
- Citi Emerging Markets Economic Surprise Index 36.70 -.1 point
- 10-Year TIPS Spread 2.0 +3.0 basis points
- 40.8% chance of Fed rate hike at May 3 meeting, 65.1% chance at June 14 meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating +180 open in Japan
- China A50 Futures: Indicating +38 open in China
- DAX Futures: Indicating +7 open in Germany
Portfolio:
- Higher: On gains in my in my retail/tech/biotech/medical sector longs
- Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges and some of my (EEM) short
- Market Exposure: Moved to 100% Net Long
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