Broad Equity Market Tone:
- Advance/Decline Line: Lower
- Sector Performance: Most Sectors Declining
- Volume: Below Average
- Market Leading Stocks: Performing In Line
Equity Investor Angst:
- Volatility(VIX) 17.19 +5.0%
- Euro/Yen Carry Return Index 136.93 -.44%
- Emerging Markets Currency Volatility(VXY) 7.79 +.39%
- S&P 500 Implied Correlation 41.48 +3.6%
- ISE Sentiment Index 86.0 +24.6%
- Total Put/Call 1.04 +19.5%
- NYSE Arms 1.06 -24.21%
Credit Investor Angst:
- North American Investment Grade CDS Index 54.96 +1.36%
- America Energy Sector High-Yield CDS Index 398.0 +.17%
- European Financial Sector CDS Index 52.32 +5.51%
- Italian/German 10Y Yld Spread 142.25 +4.75 basis points
- Asia Pacific Sovereign Debt CDS Index 11.20 +2.33%
- Emerging Market CDS Index 117.0 +1.66%
- iBoxx Offshore RMB China Corporate High Yield Index 148.23 +.01%
- 2-Year Swap Spread 31.25 -1.25 basis point
- TED Spread 36.25 -3.25 basis points
- 3-Month EUR/USD Cross-Currency Basis Swap -31.25 -1.75 basis points
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 75.46 +.05%
- 3-Month T-Bill Yield 1.75% +4.0 basis points
- Yield Curve 55.25 -3.25 basis points
- China Iron Ore Spot 70.0 USD/Metric Tonne -.14%
- Citi US Economic Surprise Index 39.60 -4.2 points
- Citi Eurozone Economic Surprise Index -31.50 -4.1 points
- Citi Emerging Markets Economic Surprise Index 39.10 +6.8 points
- 10-Year TIPS Spread 2.08 -1.0 basis point
- 100.0% chance of Fed rate hike at May 2 meeting, 100.0% chance at June 13 meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating -192 open in Japan
- China A50 Futures: Indicating -19 open in China
- DAX Futures: Indicating +3 open in Germany
Portfolio:
- Slightly Higher: On gains in my tech sector longs and index hedges
- Disclosed Trades: None
- Market Exposure: 25% Net Long
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