Broad Equity Market Tone:
- Advance/Decline Line: Lower
- Sector Performance: Most Sectors Declining
- Volume: Around Average
- Market Leading Stocks: Underperforming
Equity Investor Angst:
- Volatility(VIX) 11.78 -6.06%
- Euro/Yen Carry Return Index 125.65 +.31%
- Emerging Markets Currency Volatility(VXY) 9.69 -.41%
- S&P 500 Implied Correlation 45.55 -.91%
- ISE Sentiment Index 100.0 +23.46%
- Total Put/Call .94 +9.3%
- NYSE Arms .71 +17.59%
Credit Investor Angst:
- North American Investment Grade CDS Index 60.31 -1.03%
- America Energy Sector High-Yield CDS Index 348.0 -.11%
- European Financial Sector CDS Index 86.48 -2.17%
- Western Europe Sovereign Debt CDS Index 22.30 -1.76%
- Asia Pacific Sovereign Debt CDS Index 26.23 -.32%
- Emerging Market CDS Index 212.56 +2.06%
- iBoxx Offshore RMB China Corporate High Yield Index 135.33 +.08%
- 2-Year Swap Spread 33.75 -.25 basis point
- TED Spread 38.0 -5.5 basis points
- 3-Month EUR/USD Cross-Currency Basis Swap -25.75 +1.5 basis points
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 70.85 -.74%
- 3-Month T-Bill Yield .66% +4.0 basis points
- Yield Curve 117.0 -1.0 basis point
- China Import Iron Ore Spot $92.36/Metric Tonne +1.21%
- Citi US Economic Surprise Index 35.40 +2.8 points
- Citi Eurozone Economic Surprise Index 68.60 -.4 point
- Citi Emerging Markets Economic Surprise Index 51.60 -3.2 points
- 10-Year TIPS Spread 2.03 unch.
- 91.3% chance of Fed rate hike at May 3 meeting, 96.3% chance at June 14 meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating +51 open in Japan
- China A50 Futures: Indicating -15 open in China
- DAX Futures: Indicating +5 open in Germany
Portfolio:
- Slightly Higher: On gains in my in my retail/biotech sector longs and emerging markets shorts
- Disclosed Trades: Added to my (IWM)/(QQQ) hedges
- Market Exposure: Moved to 75% Net Long
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