Broad Equity Market Tone:
- Advance/Decline Line: Substantially Higher
- Sector Performance: Almost Every Sector Rising
- Volume: Above Average
- Market Leading Stocks: Outperforming
Equity Investor Angst:
- Volatility(VIX) 13.93 -6.7%
- Euro/Yen Carry Return Index 122.35 +.53%
- Emerging Markets Currency Volatility(VXY) 9.02 -1.53%
- S&P 500 Implied Correlation 45.35 -4.41%
- ISE Sentiment Index 87.0 +14.47%
- Total Put/Call .88 +18.92%
- NYSE Arms .92 -36.51%
Credit Investor Angst:
- North American Investment Grade CDS Index 67.74 -1.82%
- America Energy Sector High-Yield CDS Index 373.0 +.99%
- European Financial Sector CDS Index 90.82 -1.01%
- Western Europe Sovereign Debt CDS Index 11.92 +.46%
- Asia Pacific Sovereign Debt CDS Index 24.60 -.32%
- Emerging Market CDS Index 209.39 -1.23%
- iBoxx Offshore RMB China Corporate High Yield Index 137.02 +.08%
- 2-Year Swap Spread 33.5 +.75 basis point
- TED Spread 35.75 +1.25 basis points
- 3-Month EUR/USD Cross-Currency Basis Swap -30.0 -1.0 basis point
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 72.24 +.24%
- 3-Month T-Bill Yield .78% -2.0 basis points
- Yield Curve 104.0 +1.0 basis point
- China Import Iron Ore Spot $65.36/Metric Tonne +1.18%
- Citi US Economic Surprise Index 6.30 -.1 point
- Citi Eurozone Economic Surprise Index 38.50 +.2 point
- Citi Emerging Markets Economic Surprise Index 40.2 +1.1 points
- 10-Year TIPS Spread 1.87 +1.0 basis point
- 59.3% chance of Fed rate hike at June 14 meeting, 62.0% chance at July 26 meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating +205 open in Japan
- China A50 Futures: Indicating +4 open in China
- DAX Futures: Indicating +50 open in Germany
Portfolio:
- Higher: On gains in my biotech/medical/retail/tech sector longs
- Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges
- Market Exposure: Moved to 100% Net Long
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