Broad Equity Market Tone:
- Advance/Decline Line: Modestly Higher
- Sector Performance: Mixed
- Volume: Above Average
- Market Leading Stocks: Underperforming
Equity Investor Angst:
- Volatility(VIX) 19.39 +1.36%
- Euro/Yen Carry Return Index 137.33 -.72%
- Emerging Markets Currency Volatility(VXY) 8.55 -.93%
- S&P 500 Implied Correlation 43.74 +2.93%
- ISE Sentiment Index 100.0 +6.38%
- Total Put/Call .89 -3.26%
- NYSE Arms 1.11 +34.3%
Credit Investor Angst:
- North American Investment Grade CDS Index 52.72 -3.23%
- America Energy Sector High-Yield CDS Index 382.0 -.84%
- European Financial Sector CDS Index 51.20 -3.56%
- Italian/German 10Y Yld Spread 128.0 -2.25 basis points
- Asia Pacific Sovereign Debt CDS Index 12.62 -.98%
- Emerging Market CDS Index 120.21 -2.25%
- iBoxx Offshore RMB China Corporate High Yield Index 147.72 +.02%
- 2-Year Swap Spread 27.0 -.75 basis point
- TED Spread 27.75 +1.0 basis point
- 3-Month EUR/USD Cross-Currency Basis Swap -32.5 -.25 basis point
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 76.01 -.03%
- 3-Month T-Bill Yield 1.60% +1.0 basis point
- Yield Curve 68.5 -3.25 basis points
- China Iron Ore Spot 76.35 USD/Metric Tonne n/a
- Citi US Economic Surprise Index 50.20 +15.0 points
- Citi Eurozone Economic Surprise Index 35.70 -1.4 points
- Citi Emerging Markets Economic Surprise Index 2.50 +.1 point
- 10-Year TIPS Spread 2.10 -2.0 basis points
- 100.0% chance of Fed rate hike at May 2 meeting, 100.0% chance at June 13 meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating +130 open in Japan
- China A50 Futures: Indicating +389 open in China
- DAX Futures: Indicating +23 open in Germany
Portfolio:
- Slightly Lower: On losses in my tech/biotech sector longs
- Disclosed Trades: Added to my (IWM)/(QQQ) hedges
- Market Exposure: Moved to 75% Net Long
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