Broad Equity Market Tone:
- Advance/Decline Line: Slightly Lower
- Sector Performance: Mixed
- Volume: Below Average
- Market Leading Stocks: Performing In Line
Equity Investor Angst:
- Volatility(VIX) 13.2 -1.3%
- Euro/Yen Carry Return Index 131.22 +.27%
- Emerging Markets Currency Volatility(VXY) 8.06 unch.
- S&P 500 Implied Correlation 39.23 -1.41%
- ISE Sentiment Index 117.0 +33.0%
- Total Put/Call .92 +9.52%
- NYSE Arms .89 +34.9%
Credit Investor Angst:
- North American Investment Grade CDS Index 58.32 -.26%
- America Energy Sector High-Yield CDS Index 500.0 -1.83%
- European Financial Sector CDS Index 71.11 -.74%
- Italian/German 10Y Yld Spread 240.75 -8.0 basis points
- Asia Ex-Japan Investment Grade CDS Index 66.82 -.67%
- Emerging Market CDS Index 168.75 -.46%
- iBoxx Offshore RMB China Corporate High Yield Index 159.69 +.10%
- 2-Year Swap Spread 12.75 -.5 basis point
- TED Spread 16.0 -1.75 basis points
- 3-Month EUR/USD Cross-Currency Basis Swap -9.0 -.25 basis point
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 67.52 -.20%
- 3-Month T-Bill Yield 2.44% unch.
- Yield Curve 17.5 +1.75 basis points
- China Iron Ore Spot 84.22 USD/Metric Tonne -.75%
- Citi US Economic Surprise Index -34.40 -1.2 points
- Citi Eurozone Economic Surprise Index -34.70 +.6 point
- Citi Emerging Markets Economic Surprise Index -26.0 -1.4 points
- 10-Year TIPS Spread 1.94 +2.0 basis points
- 0.0% chance of Fed rate hike at May 1st meeting, 0.0% chance at June 19th meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating -37 open in Japan
- China A50 Futures: Indicating -8 open in China
- DAX Futures: Indicating +11 open in Germany
Portfolio:
- Slightly Lower: On losses in my retail/biotech/industrial sector longs
- Disclosed Trades: None
- Market Exposure: 100% Net Long
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