Broad Equity Market Tone:
- Advance/Decline Line: Lower
- Sector Performance: Mixed
- Volume: Around Average
- Market Leading Stocks: Performing In Line
Equity Investor Angst:
- Volatility(VIX) 14.86 +1.09%
- Euro/Yen Carry Return Index 131.73 +.45%
- Emerging Markets Currency Volatility(VXY) 8.28 -1.19%
- S&P 500 Implied Correlation 40.34 +.17%
- ISE Sentiment Index 105.0 +6.06%
- Total Put/Call .91 unch.
- NYSE Arms 1.23 +53.8%
Credit Investor Angst:
- North American Investment Grade CDS Index 60.16 +.37%
- America Energy Sector High-Yield CDS Index 505.0 -.75%
- European Financial Sector CDS Index 73.89 +.29%
- Italian/German 10Y Yld Spread 257.0 -6.75 basis points
- Asia Ex-Japan Investment Grade CDS Index 70.07 -.67%
- Emerging Market CDS Index 163.56 +.67%
- iBoxx Offshore RMB China Corporate High Yield Index 158.57 +.03%
- 2-Year Swap Spread 9.5 +1.0 basis point
- TED Spread 19.75 +.5 basis point
- 3-Month EUR/USD Cross-Currency Basis Swap -9.75 -2.26 basis points
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 68.22 -.27%
- 3-Month T-Bill Yield 2.43% -1.0 basis point
- Yield Curve 20.25 +1.25 basis points
- China Iron Ore Spot 81.83 USD/Metric Tonne +.53%
- Citi US Economic Surprise Index -29.80 +3.8 points
- Citi Eurozone Economic Surprise Index -58.80 +.7 point
- Citi Emerging Markets Economic Surprise Index -14.1 -3.4 points
- 10-Year TIPS Spread 1.94 unch.
- 1.7% chance of Fed rate hike at May 1st meeting, 1.6% chance at June 19th meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating +100 open in Japan
- China A50 Futures: Indicating +17 open in China
- DAX Futures: Indicating +5 open in Germany
Portfolio:
- Slightly Lower: On losses in my biotech/industrial/retail sector longs
- Disclosed Trades: None
- Market Exposure: 75% Net Long
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