Broad Equity Market Tone:
- Advance/Decline Line: Higher
- Sector Performance: Mixed
- Volume: Below Average
- Market Leading Stocks: Outperforming
Equity Investor Angst:
- Volatility(VIX) 16.11 +10.0%
- Euro/Yen Carry Return Index 136.66 -.19%
- Emerging Markets Currency Volatility(VXY) 7.71 -.26%
- S&P 500 Implied Correlation 40.89 +3.0%
- ISE Sentiment Index 91.0 -10.78%
- Total Put/Call .85 +4.9%
- NYSE Arms .72 +13.73%
Credit Investor Angst:
- North American Investment Grade CDS Index 54.0 -1.5%
- America Energy Sector High-Yield CDS Index 397.0 -.76%
- European Financial Sector CDS Index 49.22 -1.80%
- Italian/German 10Y Yld Spread 137.0 +.75 basis point
- Asia Pacific Sovereign Debt CDS Index 11.0 -5.7%
- Emerging Market CDS Index 113.83 +.49%
- iBoxx Offshore RMB China Corporate High Yield Index 148.18 +.07%
- 2-Year Swap Spread 31.50 +1.5 basis points
- TED Spread 42.0 +1.75 basis points
- 3-Month EUR/USD Cross-Currency Basis Swap -27.5 +.75 basis point
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 75.43 +.07%
- 3-Month T-Bill Yield 1.67% unch.
- Yield Curve 60.5 -1.75 basis points
- China Iron Ore Spot 68.17 USD/Metric Tonne -.13%
- Citi US Economic Surprise Index 45.0 -2.9 points
- Citi Eurozone Economic Surprise Index -25.80 -4.2 points
- Citi Emerging Markets Economic Surprise Index 33.90 +2.2 points
- 10-Year TIPS Spread 2.11 -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 -169 open in Japan
- China A50 Futures: Indicating +22 open in China
- DAX Futures: Indicating -9 open in Germany
Portfolio:
- Slightly Higher: On gains in my medical/biotech/tech sector longs
- Disclosed Trades: None
- Market Exposure: 100% Net Long
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