Broad Equity Market Tone:
- Advance/Decline Line: Modestly Higher
- Sector Performance: Most Sectors Rising
- Volume: Around Average
- Market Leading Stocks: Performing In Line
Equity Investor Angst:
- Volatility(VIX) 11.29 -2.5%
- Euro/Yen Carry Return Index 140.99 -.22%
- Emerging Markets Currency Volatility(VXY) 8.20 -.49%
- S&P 500 Implied Correlation 32.57 -2.63%
- ISE Sentiment Index 134.0 +16.52%
- Total Put/Call .79 -1.25%
- NYSE Arms .48 -55.54%
Credit Investor Angst:
- North American Investment Grade CDS Index 45.38 -1.93%
- America Energy Sector High-Yield CDS Index 294.0 -.31%
- European Financial Sector CDS Index 41.10 -2.08%
- Italian/German 10Y Yld Spread 137.75 +2.5 basis points
- Asia Pacific Sovereign Debt CDS Index 10.71 +1.28%
- Emerging Market CDS Index 113.30 -.38%
- iBoxx Offshore RMB China Corporate High Yield Index 146.43 -.19%
- 2-Year Swap Spread 18.50 unch.
- TED Spread 35.75 +4.25 basis points
- 3-Month EUR/USD Cross-Currency Basis Swap -26.5 unch.
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 76.48 +.06%
- 3-Month T-Bill Yield 1.41% -1.0 basis point
- Yield Curve 54.0 unch.
- China Iron Ore Spot 73.08 USD/Metric Tonne -.16%
- Citi US Economic Surprise Index 37.50 -4.6 points
- Citi Eurozone Economic Surprise Index 56.40 -1.9 basis points
- Citi Emerging Markets Economic Surprise Index .5 -.7 basis point
- 10-Year TIPS Spread 2.09 +3.0 basis points
- 90.4% chance of Fed rate hike at March 21 meeting, 90.6% chance at May 2 meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating +90 open in Japan
- China A50 Futures: Indicating +61 open in China
- DAX Futures: Indicating +10 open in Germany
Portfolio:
- Higher: On gains in my biotech/medical/tech/retail sector longs
- Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges
- Market Exposure: Moved to 100% Net Long
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