Broad Equity Market Tone:
- Advance/Decline Line: Substantially Higher
- Sector Performance: Most Sectors Rising
- Volume: Above Average
- Market Leading Stocks: Performing In Line
Equity Investor Angst:
- Volatility(VIX) 10.50 -2.42%
- Euro/Yen Carry Return Index 126.69 -.06%
- Emerging Markets Currency Volatility(VXY) 8.77 +1.86%
- S&P 500 Implied Correlation 41.76 +.14%
- ISE Sentiment Index 103.0 +9.57%
- Total Put/Call .72 -11.11%
- NYSE Arms 1.06 +16.19%
Credit Investor Angst:
- North American Investment Grade CDS Index 62.86 -.61%
- America Energy Sector High-Yield CDS Index 371.0 -1.32%
- European Financial Sector CDS Index 74.0 -.64%
- Western Europe Sovereign Debt CDS Index 9.60 +3.90%
- Asia Pacific Sovereign Debt CDS Index 22.57 -1.27%
- Emerging Market CDS Index 201.12 +1.80%
- iBoxx Offshore RMB China Corporate High Yield Index 137.13 unch.
- 2-Year Swap Spread 31.25 -1.75 basis points
- TED Spread 35.50 -1.0 basis point
- 3-Month EUR/USD Cross-Currency Basis Swap -27.75 -1.5 basis points
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 72.24 -.59%
- 3-Month T-Bill Yield .81% unch.
- Yield Curve 104.0 -2.0 basis points
- China Import Iron Ore Spot $66.62/Metric Tonne +.83%
- Citi US Economic Surprise Index 7.10 -.2 point
- Citi Eurozone Economic Surprise Index 50.30 -.6 point
- Citi Emerging Markets Economic Surprise Index 38.9 +.3 point
- 10-Year TIPS Spread 1.92 unch.
- 69.7% chance of Fed rate hike at June 14 meeting, 72.6% chance at July 26 meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating -4 open in Japan
- China A50 Futures: Indicating +3 open in China
- DAX Futures: Indicating +5 open in Germany
Portfolio:
- Higher: On gains in my biotech/retail/medical sector longs
- Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges
- Market Exposure: Moved to 100% Net Long
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