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) 10.11 -2.88%
- Euro/Yen Carry Return Index 130.38 +.32%
- Emerging Markets Currency Volatility(VXY) 8.23 -1.08%
- S&P 500 Implied Correlation 39.89 +1.66%
- ISE Sentiment Index 98.0 +13.95%
- Total Put/Call .96 -4.95%
- NYSE Arms 1.03 -22.67%
Credit Investor Angst:
- North American Investment Grade CDS Index 60.66 -1.78%
- America Energy Sector High-Yield CDS Index 371.0 -.92%
- European Financial Sector CDS Index 70.88 +1.73%
- Western Europe Sovereign Debt CDS Index 8.32 +2.02%
- Asia Pacific Sovereign Debt CDS Index 19.25 -2.01%
- Emerging Market CDS Index 193.61 -.85%
- iBoxx Offshore RMB China Corporate High Yield Index 138.65 +.06%
- 2-Year Swap Spread 22.75 -.5 basis point
- TED Spread 23.25 unch.
- 3-Month EUR/USD Cross-Currency Basis Swap -33.50 +1.0 basis point
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 73.21 +.05%
- 3-Month T-Bill Yield .97% unch.
- Yield Curve 92.0 unch.
- China Import Iron Ore Spot $55.97/Metric Tonne -1.84%
- Citi US Economic Surprise Index -36.10 +2.1 points
- Citi Eurozone Economic Surprise Index 43.50 +2.9 points
- Citi Emerging Markets Economic Surprise Index 11.0 +3.6 points
- 10-Year TIPS Spread 1.84 +1.0 basis point
- 91.4% chance of Fed rate hike at July 26 meeting, 94.0% chance at Sept. 20 meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating +65 open in Japan
- China A50 Futures: Indicating +1 open in China
- DAX Futures: Indicating +29 open in Germany
Portfolio:
- Higher: On gains in my retail/tech/medical/biotech sector longs
- Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges
- Market Exposure: Moved to 100% Net Long
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