Broad Equity Market Tone:
- Advance/Decline Line: Higher
- Sector Performance: Almost Every Sector Rising
- Volume: Heavy
- Market Leading Stocks: Outperforming
Equity Investor Angst:
- Volatility(VIX) 30.0 -19.4%
- Euro/Yen Carry Return Index 141.25 +.41%
- Emerging Markets Currency Volatility(VXY) 8.92 +3.36%
- S&P 500 Implied Correlation 44.32 +7.5%
- ISE Sentiment Index 132.0 +100.0%
- Total Put/Call 1.0 +9.89%
- NYSE Arms .62 -82.46%
Credit Investor Angst:
- North American Investment Grade CDS Index 55.0 +.66%
- America Energy Sector High-Yield CDS Index 359.0 -4.11%
- European Financial Sector CDS Index 48.0 +5.82%
- Italian/German 10Y Yld Spread 129.50 +.5 basis point
- Asia Pacific Sovereign Debt CDS Index 12.63 +6.67%
- Emerging Market CDS Index 119.95 -3.71%
- iBoxx Offshore RMB China Corporate High Yield Index 147.34 +.12%
- 2-Year Swap Spread 23.75 unch.
- TED Spread 27.75 -3.0 basis points
- 3-Month EUR/USD Cross-Currency Basis Swap -29.50 -.5 basis point
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 75.73 +.24%
- 3-Month T-Bill Yield 1.51% +2.0 basis points
- Yield Curve 68.25 -3.0 basis points
- China Iron Ore Spot 74.31 USD/Metric Tonne +.20%
- Citi US Economic Surprise Index 48.10 -1.9 points
- Citi Eurozone Economic Surprise Index 41.90 +5.0 basis points
- Citi Emerging Markets Economic Surprise Index 1.1 -.7 basis point
- 10-Year TIPS Spread 2.10 -2.0 basis points
- 96.3% chance of Fed rate hike at May 2 meeting, 98.6% chance at June 13 meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating +470 open in Japan
- China A50 Futures: Indicating +76 open in China
- DAX Futures: Indicating +169 open in Germany
Portfolio:
- Higher: On gains in my medical/retail/tech/biotech sector longs
- Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges and some of my emerging market shorts
- Market Exposure: Moved to 75% Net Long
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