Broad Equity Market Tone:
- Advance/Decline Line: Substantially Higher
- Sector Performance: Almost Every Sector Rising
- Volume: Heavy
- Market Leading Stocks: Outperforming
Equity Investor Angst:
- Volatility(VIX) 9.37 -10.68%
- Euro/Yen Carry Return Index 138.03 +.05%
- Emerging Markets Currency Volatility(VXY) 7.59 -.91%
- S&P 500 Implied Correlation 36.56 -1.62%
- ISE Sentiment Index 69.0 -34.91%
- Total Put/Call 1.06 +32.50%
- NYSE Arms .65 -51.96%
Credit Investor Angst:
- North American Investment Grade CDS Index 50.30 -.85%
- America Energy Sector High-Yield CDS Index 378.0 -.06%
- European Financial Sector CDS Index 47.06 +.2%
- Western Europe Sovereign Debt CDS Index 3.33 unch.
- Asia Pacific Sovereign Debt CDS Index 13.60 -1.73%
- Emerging Market CDS Index 125.76 -.36%
- iBoxx Offshore RMB China Corporate High Yield Index 145.60 +.04%
- 2-Year Swap Spread 18.25 -1.25 basis point
- TED Spread 28.75 +3.0 basis points
- 3-Month EUR/USD Cross-Currency Basis Swap -99.0 -21.75 basis points
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 73.20 +.26%
- 3-Month T-Bill Yield 1.31% unch.
- Yield Curve 52.0 -1.5 basis points
- China Iron Ore Spot 515.50 CNY/100 Metric Tonnes +5.96%
- Citi US Economic Surprise Index 72.20 -2.0 points
- Citi Eurozone Economic Surprise Index 70.30 -1.7 basis points
- Citi Emerging Markets Economic Surprise Index .5 -1.9 points
- 10-Year TIPS Spread 1.89 unch.
- 70.8% chance of Fed rate hike at March 21 meeting, 73.3% chance at May 2 meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating +192 open in Japan
- China A50 Futures: Indicating +39 open in China
- DAX Futures: Indicating +21 open in Germany
Portfolio:
- Higher: On gains in my retail/biotech/medical/tech sector longs
- Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges
- Market Exposure: Moved to 100% Net Long
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