Stocks Rising into Final Hour on China Trade Deal Hopes, Oil Gain, Technical Buying, Energy/Tech Sector Strength

 Broad Equity Market Tone:

• Advance/Decline Line: Higher
  

• Sector Performance: Most Sectors Rising
  

• Volume: Around Average

• Market Leading Stocks: Performing In Line

Equity Investor Angst:

• Volatility(VIX) 15.29 -.91%

• Euro/Yen Carry Return Index 129.99 -.06%

• Emerging Markets Currency Volatility(VXY) 8.85 +.57%

• S&P 500 Implied Correlation 41.57 +.63%

• ISE Sentiment Index 69.0 -39.5%
  

• Total Put/Call 1.0 +29.9%

• NYSE Arms 1.14 +32.6%

Credit Investor Angst:

• North American Investment Grade CDS Index 64.34 -1.63%
  

• America Energy Sector High-Yield CDS Index 555.0 -1.79%

• European Financial Sector CDS Index 88.30 -1.76%

• Italian/German 10Y Yld Spread 266.0 -5.25 basis points
  

• Asia Ex-Japan Investment Grade CDS Index 75.86 -3.71%
  

• Emerging Market CDS Index 176.55 +1.02%
  

• iBoxx Offshore RMB China Corporate High Yield Index 156.91 +.13%

• 2-Year Swap Spread 13.25 -.25 basis point

• TED Spread 27.25 -.75 basis points

• 3-Month EUR/USD Cross-Currency Basis Swap -8.75 -.25 basis point.

Economic Gauges:

• Bloomberg Emerging Markets Currency Index 67.85 -.56%
• 3-Month T-Bill Yield 2.42% +1.0 basis point

• Yield Curve 17.25 -.5 basis point

• China Iron Ore Spot 84.80 USD/Metric Tonne +1.11%

• Citi US Economic Surprise Index 15.40 +.2 point

• Citi Eurozone Economic Surprise Index -79.0 -1.4 points

• Citi Emerging Markets Economic Surprise Index -11.8 -3.9 points

• 10-Year TIPS Spread 1.86 +2.0 basis points
• 1.8% chance of Fed rate hike at May 1st meeting, 4.7% chance at June 19th meeting

Overseas Futures:

• Nikkei 225 Futures: Indicating +31 open in Japan 
• China A50 Futures: Indicating +14 open in China

• DAX Futures: Indicating +30 open in Germany

Portfolio:

• Higher: On gains in my tech/biotech/retail/industrial sector longs

• Disclosed Trades: None

• Market Exposure: 100% Net Long