Broad Equity Market Tone:
- Advance/Decline Line: Substantially Higher
- Sector Performance: Almost Every Sector Rising
- Volume: Below Average
- Market Leading Stocks: Outperforming
Equity Investor Angst:
- Volatility(VIX) 15.29 -7.6%
- Euro/Yen Carry Return Index 137.03 +.63%
- Emerging Markets Currency Volatility(VXY) 7.75 -1.9%
- S&P 500 Implied Correlation 38.1 -5.1%
- ISE Sentiment Index 114.0 +44.2%
- Total Put/Call .78 -15.2%
- NYSE Arms .90 -16.8%
Credit Investor Angst:
- North American Investment Grade CDS Index 54.84 -2.69%
- America Energy Sector High-Yield CDS Index 397.0 +1.15%
- European Financial Sector CDS Index 50.11 -3.43%
- Italian/German 10Y Yld Spread 136.25 -.5 basis point
- Asia Pacific Sovereign Debt CDS Index 11.65 -2.43%
- Emerging Market CDS Index 113.03 -3.63%
- iBoxx Offshore RMB China Corporate High Yield Index 148.08 +.01%
- 2-Year Swap Spread 30.0 +.5 basis point
- TED Spread 40.25 +3.25 basis points
- 3-Month EUR/USD Cross-Currency Basis Swap -28.25 +.75 basis point
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 75.41 +.24%
- 3-Month T-Bill Yield 1.67% unch.
- Yield Curve 62.75 +1.5 basis points
- China Iron Ore Spot 69.18 USD/Metric Tonne -.03%
- Citi US Economic Surprise Index 47.90 +9.9 points
- Citi Eurozone Economic Surprise Index -21.60 -8.8 points
- Citi Emerging Markets Economic Surprise Index 31.70 +.4 point
- 10-Year TIPS Spread 2.13 +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 +266 open in Japan
- China A50 Futures: Indicating +130 open in China
- DAX Futures: Indicating +17 open in Germany
Portfolio:
- Higher: On gains in my medical/retail/biotech/tech/industrial sector longs
- Disclosed Trades: None
- Market Exposure: 100% Net Long
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