Broad Equity Market Tone:
- Advance/Decline Line: Higher
- Sector Performance: Most Sectors Rising
- Volume: Heavy
- Market Leading Stocks: Outperforming
Equity Investor Angst:
- Volatility(VIX) 15.82 -4.64%
- Euro/Yen Carry Return Index 135.78 -.38%
- Emerging Markets Currency Volatility(VXY) 7.88 -.25%
- S&P 500 Implied Correlation 41.98 -6.09%
- ISE Sentiment Index 91.0 -13.33%
- Total Put/Call .99 +12.5%
- NYSE Arms .81 -28.01%
Credit Investor Angst:
- North American Investment Grade CDS Index 51.67 -1.95%
- America Energy Sector High-Yield CDS Index 401.0 +.24%
- European Financial Sector CDS Index 51.67 -1.95%
- Italian/German 10Y Yld Spread 141.25 +.25 basis point
- Asia Pacific Sovereign Debt CDS Index 11.33 -.7%
- Emerging Market CDS Index 118.57 -.1%
- iBoxx Offshore RMB China Corporate High Yield Index 148.41 +.02%
- 2-Year Swap Spread 32.25 +2.5 basis points
- TED Spread 40.5 +3.75 basis points
- 3-Month EUR/USD Cross-Currency Basis Swap -22.5 -9.25 basis points
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 75.13 -.44%
- 3-Month T-Bill Yield 1.77% unch.
- Yield Curve 55.5 +1.0 basis point
- China Iron Ore Spot 67.10 USD/Metric Tonne +.88%
- Citi US Economic Surprise Index 45.8 +6.1 points
- Citi Eurozone Economic Surprise Index -31.70 -.1 point
- Citi Emerging Markets Economic Surprise Index 39.30 -.2 point
- 10-Year TIPS Spread 2.09 unch.
- 100.0% chance of Fed rate hike at May 2 meeting, 100.0% chance at June 13 meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating -206 open in Japan
- China A50 Futures: Indicating +20 open in China
- DAX Futures: Indicating +26 open in Germany
Portfolio:
- Slightly Higher: On gains in my retail/industrial sector longs and emerging markets shorts
- Disclosed Trades: None
- Market Exposure: 50% Net Long
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