Broad Equity Market Tone:
- Advance/Decline Line: Modestly Higher
- Sector Performance: Most Sectors Rising
- Volume: Below Average
- Market Leading Stocks: Outperforming
Equity Investor Angst:
- Volatility(VIX) 10.24 -5.36%
- Euro/Yen Carry Return Index 127.30 +.34%
- Emerging Markets Currency Volatility(VXY) 8.67 +.70%
- S&P 500 Implied Correlation 41.79 -3.15%
- ISE Sentiment Index 91.0 +26.39%
- Total Put/Call .83 -13.54%
- NYSE Arms 1.0 -15.18%
Credit Investor Angst:
- North American Investment Grade CDS Index 63.31 -.8%
- America Energy Sector High-Yield CDS Index 372.0 -.24%
- European Financial Sector CDS Index 74.05 -.20%
- Western Europe Sovereign Debt CDS Index 9.31 +1.53%
- Asia Pacific Sovereign Debt CDS Index 22.43 +.74%
- Emerging Market CDS Index 195.54 +.03%
- iBoxx Offshore RMB China Corporate High Yield Index 137.19 +.02%
- 2-Year Swap Spread 30.0 -1.25 basis points
- TED Spread 37.5 +.25 basis point
- 3-Month EUR/USD Cross-Currency Basis Swap -33.5 unch.
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 72.32 +.03%
- 3-Month T-Bill Yield .80% unch.
- Yield Curve 104.0 +2.0 basis points
- China Import Iron Ore Spot $68.80/Metric Tonne n/a
- Citi US Economic Surprise Index -20.60 -15.8 points
- Citi Eurozone Economic Surprise Index 68.50 -1.9 points
- Citi Emerging Markets Economic Surprise Index 39.3 -.2 point
- 10-Year TIPS Spread 1.93 -1.0 basis point
- 69.7% chance of Fed rate hike at June 14 meeting, 72.0% chance at July 26 meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating +65 open in Japan
- China A50 Futures: Indicating -5 open in China
- DAX Futures: Indicating +29 open in Germany
Portfolio:
- Higher: On gains in my biotech/tech/medical sector longs
- Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges
- Market Exposure: Moved to 75% Net Long
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