Broad Equity Market Tone:
- Advance/Decline Line: Substantially Higher
- Sector Performance: Almost Every Sector Rising
- Volume: Heavy
- Market Leading Stocks: Outperforming
Equity Investor Angst:
- Volatility(VIX) 11.96 -7.43%
- Euro/Yen Carry Return Index 125.17 +.51%
- Emerging Markets Currency Volatility(VXY) 9.76 +1.67%
- S&P 500 Implied Correlation 45.29 -3.45%
- ISE Sentiment Index 114.0 unch.
- Total Put/Call .87 -26.27%
- NYSE Arms .56 -58.53%
Credit Investor Angst:
- North American Investment Grade CDS Index 60.33 -3.32%
- America Energy Sector High-Yield CDS Index 329.0 -2.23%
- European Financial Sector CDS Index 88.40 -3.76%
- Western Europe Sovereign Debt CDS Index 22.70 +8.74%
- Asia Pacific Sovereign Debt CDS Index 26.50 -.38%
- Emerging Market CDS Index 208.53 -3.81%
- iBoxx Offshore RMB China Corporate High Yield Index 135.22 +.10%
- 2-Year Swap Spread 34.0 -1.25 basis points
- TED Spread 43.5 -1.25 basis points
- 3-Month EUR/USD Cross-Currency Basis Swap -27.25 -1.0 basis point
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 71.36 unch.
- 3-Month T-Bill Yield .62% +10.0 basis points
- Yield Curve 118.0 +2.0 basis points
- China Import Iron Ore Spot $91.26/Metric Tonne -.01%
- Citi US Economic Surprise Index 32.60 -2.1 points
- Citi Eurozone Economic Surprise Index 69.0 -2.1 points
- Citi Emerging Markets Economic Surprise Index 54.80 +8.2 points
- 10-Year TIPS Spread 2.03 +1.0 basis point
- 83.1% chance of Fed rate hike at May 3 meeting, 90.2% chance at June 14 meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating +237 open in Japan
- China A50 Futures: Indicating +62 open in China
- DAX Futures: Indicating +30 open in Germany
Portfolio:
- Higher: On gains in my in my medical/tech/biotech sector longs
- Disclosed Trades: None
- Market Exposure: 100% Net Long
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