Broad Equity Market Tone:
- Advance/Decline Line: Substantially Higher
- Sector Performance: Almost Every Sector Rising
- Volume: Around Average
- Market Leading Stocks: Outperforming
Equity Investor Angst:
- Volatility(VIX) 18.3 -6.5%
- Euro/Yen Carry Return Index 136.36 +.5%
- Emerging Markets Currency Volatility(VXY) 8.06 -1.23%
- S&P 500 Implied Correlation 38.90 -4.1%
- ISE Sentiment Index 89.0 +15.58%
- Total Put/Call 1.0 +14.53%
- NYSE Arms .50 -32.28%
Credit Investor Angst:
- North American Investment Grade CDS Index 55.67 -1.23%
- America Energy Sector High-Yield CDS Index 394.0 -.33%
- European Financial Sector CDS Index 55.96 +.58%
- Italian/German 10Y Yld Spread 136.0 +4.0 basis points
- Asia Pacific Sovereign Debt CDS Index 12.0 -.08%
- Emerging Market CDS Index 119.70 -3.72%
- iBoxx Offshore RMB China Corporate High Yield Index 148.01 +.03%
- 2-Year Swap Spread 27.0 +1.5 basis points
- TED Spread 38.25 -.75 basis point
- 3-Month EUR/USD Cross-Currency Basis Swap -31.75 +1.25 basis points
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 75.40 +.07%
- 3-Month T-Bill Yield 1.66% +3.0 basis points
- Yield Curve 64.50 +2.5 basis points
- China Iron Ore Spot 72.71 USD/Metric Tonne -.62%
- Citi US Economic Surprise Index 38.90 -.2 point
- Citi Eurozone Economic Surprise Index -7.6 -7.1 points
- Citi Emerging Markets Economic Surprise Index 12.50 +2.6 points
- 10-Year TIPS Spread 2.14 +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 +283 open in Japan
- China A50 Futures: Indicating +75 open in China
- DAX Futures: Indicating +76 open in Germany
Portfolio:
- Higher: On gains in my biotech/medical/tech/retail/industrial sector longs
- Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges and emerging markets shorts
- Market Exposure: Moved to 100% Net Long
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