Broad Equity Market Tone:
- Advance/Decline Line: Higher
- Sector Performance: Mixed
- Volume: Below Average
- Market Leading Stocks: Outperforming
Equity Investor Angst:
- Volatility(VIX) 13.0 +1.8%
- Euro/Yen Carry Return Index 129.81 +.55%
- Emerging Markets Currency Volatility(VXY) 8.132 -.85%
- S&P 500 Implied Correlation 34.84 -1.3%
- ISE Sentiment Index 110.0 +10.0%
- Total Put/Call .85 +2.41%
- NYSE Arms 1.29 +51.8%
Credit Investor Angst:
- North American Investment Grade CDS Index 57.16 -.56%
- America Energy Sector High-Yield CDS Index 451.0 +.94%
- European Financial Sector CDS Index 69.04 -4.33%
- Italian/German 10Y Yld Spread 258.25 -2.25 basis points
- Asia Ex-Japan Investment Grade CDS Index 64.12 -1.55%
- Emerging Market CDS Index 191.22 -1.78%
- iBoxx Offshore RMB China Corporate High Yield Index 162.0 +.10%
- 2-Year Swap Spread 10.75 +.25 basis point
- TED Spread 17.75+.5 basis point
- 3-Month EUR/USD Cross-Currency Basis Swap -18.5 -.75 basis point
Economic Gauges:
- Bloomberg Emerging Markets Currency Index 66.51 -.01%
- 3-Month T-Bill Yield 2.41% unch.
- Yield Curve 23.75 +2.0 basis points
- China Iron Ore Spot 92.50 USD/Metric Tonne +1.03%
- Citi US Economic Surprise Index -57.10 unch.
- Citi Eurozone Economic Surprise Index -44.40 -5.4 points
- Citi Emerging Markets Economic Surprise Index -3.3 +1.5 points
- 10-Year TIPS Spread 1.97 -1.0 basis point
- 19.7% chance of Fed rate cut at June 19th meeting, 29.7% chance of cut at July 31st meeting
Overseas Futures:
- Nikkei 225 Futures: Indicating +197 open in Japan
- China A50 Futures: Indicating -22 open in China
- DAX Futures: Indicating +30 open in Germany
Portfolio:
- Higher: On gains in my tech/biotech/industrial/retail sector longs
- Disclosed Trades: None
- Market Exposure: 100% Net Long
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