Broad Equity Market Tone:
- Advance/Decline Line: Modestly Lower
- Sector Performance: Most Sectors Declining
- Volume: Light
- Market Leading Stocks: Performing In Line
Equity Investor Angst:
- Volatility(VIX) 10.33 +1.37%
- Euro/Yen Carry Return Index 140.97 +.35%
- Emerging Markets Currency Volatility(VXY) 7.86 +.13%
- S&P 500 Implied Correlation 38.26 -10.10%
- ISE Sentiment Index 78.0 -25.0%
- Total Put/Call 1.06 -3.64%
- NYSE Arms 1.07 +41.14%
Credit Investor Angst:
- North American Investment Grade CDS Index 49.14 -.26%
- America Energy Sector High-Yield CDS Index 369.0 -.52%
- European Financial Sector CDS Index 43.97 +.92%
- Western Europe Sovereign Debt CDS Index 3.96 n/a
- Asia Pacific Sovereign Debt CDS Index 12.67 -3.21%
- Emerging Market CDS Index 119.25 -1.0%
- iBoxx Offshore RMB China Corporate High Yield Index 145.97 +.02%
- 2-Year Swap Spread 18.50 +.5 basis point
- TED Spread 31.5 +3.75 basis points
- 3-Month EUR/USD Cross-Currency Basis Swap -20.0 -2.0 basis points
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 74.26 +.12%
- 3-Month T-Bill Yield 1.38% unch.
- Yield Curve 52.25 -.25 basis point
- China Iron Ore Spot 490.50 CNY/100 Metric Tonnes n/a
- Citi US Economic Surprise Index 75.70 -1.4 points
- Citi Eurozone Economic Surprise Index 49.30 -.5 basis point
- Citi Emerging Markets Economic Surprise Index -3.30 unch.
- 10-Year TIPS Spread 1.98 +1.0 basis point
- 69.0% chance of Fed rate hike at March 21 meeting, 70.4% chance at May 2 meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating +45 open in Japan
- China A50 Futures: Indicating +37 open in China
- DAX Futures: Indicating -35 open in Germany
Portfolio:
- Slightly Lower: On losses in my medical/biotech sector longs
- Disclosed Trades: None
- Market Exposure: 100% Net Long
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