Broad Equity Market Tone:
- Advance/Decline Line: Modestly Lower
- Sector Performance: Mixed
- Volume: Below Average
- Market Leading Stocks: Outperforming
Equity Investor Angst:
- Volatility(VIX) 11.32 -4.15%
- Euro/Yen Carry Return Index 126.35 +.65%
- Emerging Markets Currency Volatility(VXY) 9.76 +1.04%
- S&P 500 Implied Correlation 44.47 -2.63%
- ISE Sentiment Index 76.0 -11.63%
- Total Put/Call .94 -7.84%
- NYSE Arms .59 -23.75%
Credit Investor Angst:
- North American Investment Grade CDS Index 60.12 -.69%
- America Energy Sector High-Yield CDS Index 352.0 +.88%
- European Financial Sector CDS Index 85.83 -.80%
- Western Europe Sovereign Debt CDS Index 21.17 -5.02%
- Asia Pacific Sovereign Debt CDS Index 26.51 +.80%
- Emerging Market CDS Index 208.79 -1.98%
- iBoxx Offshore RMB China Corporate High Yield Index 135.35 +.02%
- 2-Year Swap Spread 34.0 +.25 basis point
- TED Spread 43.50 +.5 basis point
- 3-Month EUR/USD Cross-Currency Basis Swap -22.75 +3.0 basis points
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 71.17 +.45%
- 3-Month T-Bill Yield .70% +4.0 basis points
- Yield Curve 119.0 +2.0 basis points
- China Import Iron Ore Spot $91.32/Metric Tonne -1.13%
- Citi US Economic Surprise Index 36.80 +1.4 points
- Citi Eurozone Economic Surprise Index 70.0 +1.4 points
- Citi Emerging Markets Economic Surprise Index 53.30 +1.7 points
- 10-Year TIPS Spread 2.04 +1.0 basis point
- 96.4% chance of Fed rate hike at May 3 meeting, 98.1% chance at June 14 meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating +65 open in Japan
- China A50 Futures: Indicating +34 open in China
- DAX Futures: Indicating +2 open in Germany
Portfolio:
- Slightly Lower: On losses in my in my retail sector longs and emerging markets shorts
- Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges
- Market Exposure: Moved to 100% Net Long
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