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) 9.79 -.31%
- Euro/Yen Carry Return Index 139.39 +.47%
- Emerging Markets Currency Volatility(VXY) 7.47 -1.58%
- S&P 500 Implied Correlation 33.59 -.09%
- ISE Sentiment Index 115.0 +.25%
- Total Put/Call .69 -1.43%
- NYSE Arms .63 +8.31%
Credit Investor Angst:
- North American Investment Grade CDS Index 46.85 +.41%
- America Energy Sector High-Yield CDS Index 330.0 -2.27%
- European Financial Sector CDS Index 43.10 -2.05%
- Italian/German 10Y Yld Spread 147.0 -2.5 basis points
- Asia Pacific Sovereign Debt CDS Index 10.44 +.48%
- Emerging Market CDS Index 110.78 -1.92%
- iBoxx Offshore RMB China Corporate High Yield Index 146.56 -.01%
- 2-Year Swap Spread 19.0 -.5 basis point
- TED Spread 28.5 +1.25 basis points
- 3-Month EUR/USD Cross-Currency Basis Swap -26.25 -1.25 basis points
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 75.19 +.55%
- 3-Month T-Bill Yield 1.43% +1.0 basis point
- Yield Curve 55.75 -2.0 basis points
- China Iron Ore Spot 520.0 CNY/100 Metric Tonnes unch.
- Citi US Economic Surprise Index 63.20 -3.3 points
- Citi Eurozone Economic Surprise Index 59.70 +1.4 basis points
- Citi Emerging Markets Economic Surprise Index -.2 -.2 basis point
- 10-Year TIPS Spread 2.02 -2.0 basis points
- 79.8% chance of Fed rate hike at March 21 meeting, 80.3% chance at May 2 meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating +50 open in Japan
- China A50 Futures: Indicating +53 open in China
- DAX Futures: Indicating +23 open in Germany
Portfolio:
- Higher: On gains in my medical/biotech/retail/tech sector longs
- Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges
- Market Exposure: Moved to 100% Net Long
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