Broad Equity Market Tone:
- Advance/Decline Line: Higher
- Sector Performance: Mixed
- Volume: Below Average
- Market Leading Stocks: Outperforming
Equity Investor Angst:
- Volatility(VIX) 11.45 -1.8%
- Euro/Yen Carry Return Index 127.75 -.15%
- Emerging Markets Currency Volatility(VXY) 9.34 -.85%
- S&P 500 Implied Correlation 44.55 -3.09%
- ISE Sentiment Index 57.0 -44.12%
- Total Put/Call .91 +4.6%
- NYSE Arms .91 -5.68%
Credit Investor Angst:
- North American Investment Grade CDS Index 65.03 +1.5%
- America Energy Sector High-Yield CDS Index 385.0 +.29%
- European Financial Sector CDS Index 86.95 +.83%
- Western Europe Sovereign Debt CDS Index 14.52 -16.75%
- Asia Pacific Sovereign Debt CDS Index 27.69 -1.0%
- Emerging Market CDS Index 216.11 -.44%
- iBoxx Offshore RMB China Corporate High Yield Index 135.79 +.10%
- 2-Year Swap Spread 33.25 -.25 basis point
- TED Spread 37.5 -.25 basis point
- 3-Month EUR/USD Cross-Currency Basis Swap -21.0 -1.25 basis points
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 70.97 +.02%
- 3-Month T-Bill Yield .74% unch.
- Yield Curve 123.0 +1.0 basis point
- China Import Iron Ore Spot $88.26/Metric Tonne +1.78%
- Citi US Economic Surprise Index 47.50 -.5 point
- Citi Eurozone Economic Surprise Index 51.40 -6.5 points
- Citi Emerging Markets Economic Surprise Index 48.60 -2.9 points
- 10-Year TIPS Spread 2.02 +1.0 basis point
- 100.0% chance of Fed rate hike at May 3 meeting, 100.0% chance at June 14 meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating -49 open in Japan
- China A50 Futures: Indicating -2 open in China
- DAX Futures: Indicating +4 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 75% Net Long
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