Broad Equity Market Tone:
- Advance/Decline Line: Higher
- Sector Performance: Mixed
- Volume: Below Average
- Market Leading Stocks: Performing In Line
Equity Investor Angst:
- Volatility(VIX) 13.2 +2.7%
- Euro/Yen Carry Return Index 131.15 -.02%
- Emerging Markets Currency Volatility(VXY) 7.98 +1.27%
- S&P 500 Implied Correlation 39.31 -2.4%
- ISE Sentiment Index 76.0 +7.0%
- Total Put/Call .82 unch.
- NYSE Arms .82 -26.8%
Credit Investor Angst:
- North American Investment Grade CDS Index 57.43 -1.05%
- America Energy Sector High-Yield CDS Index 511.0 -.33%
- European Financial Sector CDS Index 70.90 -1.10%
- Italian/German 10Y Yld Spread 237.0 -4.25 basis points
- Asia Ex-Japan Investment Grade CDS Index 65.0 -2.53%
- Emerging Market CDS Index 166.25 -.92%
- iBoxx Offshore RMB China Corporate High Yield Index 159.80 -.04%
- 2-Year Swap Spread 11.5 unch.
- TED Spread 19.50 +1.5 basis points
- 3-Month EUR/USD Cross-Currency Basis Swap -7.75 unch.
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 67.91 +.22%
- 3-Month T-Bill Yield 2.44% unch.
- Yield Curve 14.75 -.75 basis point
- China Iron Ore Spot 86.46 USD/Metric Tonne +.43%
- Citi US Economic Surprise Index -35.90 +.3 point
- Citi Eurozone Economic Surprise Index -31.80 +2.3 points
- Citi Emerging Markets Economic Surprise Index -25.10 +3.4 points
- 10-Year TIPS Spread 1.96 +1.0 basis point
- 0.0% chance of Fed rate hike at May 1st meeting, 0.0% chance at June 19th meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating -164 open in Japan
- China A50 Futures: Indicating +21 open in China
- DAX Futures: Indicating +28 open in Germany
Portfolio:
- Slightly Higher: On gains in my retail/tech/industrial sector longs
- Disclosed Trades: None
- Market Exposure: 75% Net Long
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