Broad Equity Market Tone:
- Advance/Decline Line: Substantially Lower
- Sector Performance: Most Sectors Declining
- Volume: Below Average
- Market Leading Stocks: Underperforming
Equity Investor Angst:
- Volatility(VIX) 11.27 +2.83%
- Euro/Yen Carry Return Index 125.91 -.46%
- Emerging Markets Currency Volatility(VXY) 9.53 -2.26%
- S&P 500 Implied Correlation 44.93 -.11%
- ISE Sentiment Index 60.0 -31.03%
- Total Put/Call .86 -9.47%
- NYSE Arms 1.29 +62.57%
Credit Investor Angst:
- North American Investment Grade CDS Index 60.50 +.73%
- America Energy Sector High-Yield CDS Index 359.0 +1.69%
- European Financial Sector CDS Index 87.30 +1.68%
- Western Europe Sovereign Debt CDS Index 20.0 -5.55%
- Asia Pacific Sovereign Debt CDS Index 27.40 +3.63%
- Emerging Market CDS Index 207.92 +.47%
- iBoxx Offshore RMB China Corporate High Yield Index 135.58 +.17%
- 2-Year Swap Spread 33.25 -.75 basis point
- TED Spread 39.50 +4.0 basis points
- 3-Month EUR/USD Cross-Currency Basis Swap -24.5 -1.75 basis points
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 71.12 -.09%
- 3-Month T-Bill Yield .72% +2.0 basis points
- Yield Curve 119.0 unch.
- China Import Iron Ore Spot $89.73/Metric Tonne -1.74%
- Citi US Economic Surprise Index 38.20 +1.4 points
- Citi Eurozone Economic Surprise Index 68.0 -2.0 points
- Citi Emerging Markets Economic Surprise Index 54.80 +1.5 points
- 10-Year TIPS Spread 2.03 -1.0 basis point
- 98.2% chance of Fed rate hike at May 3 meeting, 98.9% chance at June 14 meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating -3 open in Japan
- China A50 Futures: Indicating +3 open in China
- DAX Futures: Indicating +1 open in Germany
Portfolio:
- Slightly Lower: On losses in my in my retail/biotech sector longs
- Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges
- Market Exposure: Moved to 100% Net Long
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