Broad Equity Market Tone:
- Advance/Decline Line: Substantially Higher
- Sector Performance: Almost Every Sector Rising
- Volume: Slightly Above Average
- Market Leading Stocks: Outperforming
Equity Investor Angst:
- Volatility(VIX) 11.07 -24.3%
- Euro/Yen Carry Return Index 124.50 +1.88%
- Emerging Markets Currency Volatility(VXY) 8.50 -5.76%
- S&P 500 Implied Correlation 42.21 -4.74%
- ISE Sentiment Index 82.0 +9.3%
- Total Put/Call 1.0 -2.91%
- NYSE Arms .71 -59.83%
Credit Investor Angst:
- North American Investment Grade CDS Index 64.50 -4.21%
- America Energy Sector High-Yield CDS Index 373.0 +.28%
- European Financial Sector CDS Index 77.98 -13.50%
- Western Europe Sovereign Debt CDS Index 9.56 -18.64%
- Asia Pacific Sovereign Debt CDS Index 23.05 -4.08%
- Emerging Market CDS Index 200.41 -2.98%
- iBoxx Offshore RMB China Corporate High Yield Index 137.0 -.02%
- 2-Year Swap Spread 33.25 -1.5 basis points
- TED Spread 37.0 -.75 basis point
- 3-Month EUR/USD Cross-Currency Basis Swap -27.0 +6.25 basis points
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 72.68 +.05%
- 3-Month T-Bill Yield .78% unch.
- Yield Curve 105.0 unch.
- China Import Iron Ore Spot $66.53/Metric Tonne -2.48%
- Citi US Economic Surprise Index .80 -2.0 points
- Citi Eurozone Economic Surprise Index 51.40 +2.1 points
- Citi Emerging Markets Economic Surprise Index 37.4 -2.4 points
- 10-Year TIPS Spread 1.88 +2.0 basis points
- 66.5% chance of Fed rate hike at June 14 meeting, 69.6% chance at July 26 meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating +60 open in Japan
- China A50 Futures: Indicating -12 open in China
- DAX Futures: Indicating +42 open in Germany
Portfolio:
- Higher: On gains in my biotech/retail/tech/medical sector longs
- Disclosed Trades: None
- Market Exposure: 100% Net Long
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